Joseph W. Michalski, Jeanette Michalski, Robert G. Michalski, Paulette R. Michalski v. Bank of America Arizona, an Arizona Corporation

WOLLMAN, Circuit Judge.

Joseph W., Jeanette, Robert G., and Paulette R. Michalski (collectively, the “Mi-chalskis”) brought this diversity action against Bank of America Arizona (“Bank”), alleging various breach of contract claims under Minnesota law. Finding no dispute of material fact, the district court granted summary judgment in favor of Bank. We reverse and remand.

I

Bank is the successor corporation to Security Pacific Bank Arizona (“Security Pacific”). In 1990 and 1991, Security Pacific extended two loans to Reppel Steel, Inc. (“Reppel Steel”), totalling $1,750,000. The loans were…