First State Bank of Goodrich v. Oster

RALPH J. ERICKSTAD, Surrogate Judge.

Randy Oster appeals from a district court summary judgment entered in favor of First State Bank of Goodrich [“the Bank”]. We affirm.

Oster farms in Burleigh County. Beginning in 1984, he received annual operating loans and other funds from the Bank. Oster asserts that as notes became due each year they would be “rolled over” into a new loan agreement, with new notes executed. Oster testified that he had an oral agreement with the Bank that it would continue indefinitely to make new loans each year upon payment of all interest and part of the principal.

In…