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RURAL AMERICAN BANK OF GREENWALD v. HERICKHOFF

No. CX-90-2341.

485 N.W.2d 702 (1992)

RURAL AMERICAN BANK OF GREENWALD, Appellant, v. Ben HERICKHOFF, Respondent, Anna HERICKHOFF, et al., Defendants. Ben Herickhoff, Respondent, v. Mark HERICKHOFF, Respondent.

Supreme Court of Minnesota.

June 5, 1992.

Attorney(s) appearing for the Case

Maclay R. Hyde, Laura Hein, Gray, Plant, Mooty, Mooty & Bennett, Minneapolis, for appellant.

Michael D. Miller, Cousineau, McGuire & Anderson, Chartered, Minneapolis, for Ben Herickhoff.

Scott B. Lundquist, Lundquist & Roth, Minneapolis, for Mark Herickhoff.

Heard, considered and decided by the court en banc.

KEITH, Chief Justice.

This case involves the interpretation of Minnesota's credit agreement statute, Minn.Stat. § 513.33 (1990 & Supp.1991),1 and its application to agriculture operational loans made to a retired farmer and his son and daughter-in-law.

Appellant, Rural American Bank of Greenwald (Bank), commenced this action against respondent, Ben Herickhoff, seeking to recover on a promissory note for $175,000, interest...

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