First National Bank in Worthington v. State

OPINION

HUSPENI, Judge.

The trial court determined that appellant, First National Bank in Worthington, was not entitled to recover from the State of Minnesota under the Family Farm Security Program. On appeal the Bank argues that the trial court erred in finding that the Bank’s cancellation of a preceding contract for deed precluded its recovery of the State’s guarantee on a subsequent contract for deed. We affirm.

FACTS

This case was submitted to the trial court on stipulated facts and arises from a series of transactions involving the same parcel of farm land. In July 1973, Albert and Arline…