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CITIZENS STATE BANK v. HANSEN

No. 88-1517.

449 N.W.2d 388 (1989)

CITIZENS STATE BANK OF DES MOINES, Iowa, Appellee, v. Jerry F. HANSEN and Hansen-Friedrichsen, Inc., Appellants, HANSEN-FRIEDRICHSEN, INC., Appellant, v. CITIZENS STATE BANK OF DONNELLSON, et al., Appellees.

Supreme Court of Iowa.

Rehearing Denied January 22, 1990.

Attorney(s) appearing for the Case

James B. Smith of Shirley, Smith, Shirley & Powell, Perry, and Thomas S. Reavely of Rogers, Reavely, Shinkle & Reimer, Des Moines, for appellants.

David L. Charles and W. Scott Simmer of Gamble, Riepe, Webster, Davis & Green, Des Moines, for appellee.

Considered by McGIVERIN, C.J., and HARRIS, LARSON, CARTER, and NEUMAN, JJ.

NEUMAN, Justice.

This is an appeal from the district court's refusal to quash the "sale" of a suit for specific performance. We reverse.

The facts in this consolidated appeal are not disputed. Both suits concern a 340-acre parcel of Dallas County farmland formerly owned by appellant Hansen-Friedrichsen, Inc. The land served as partial security for over $2 million in promissory notes executed by Hansen-Friedrichsen and its guarantor, appellant Jerry F. Hansen...

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