Nichols v. Shelard National Bank

WAHL, Justice.

The plaintiffs, Richard and Janice Nichols, brought this action in Hennepin County District Court seeking to have a $30,000 second mortgage on their home held by the defendant, Shelard National Bank, declared null and void. The bank counterclaimed to foreclose the mortgage. The Nichols responded by requesting that the mortgage either be declared null and void or be reformed “to embody the actual agreement of the parties.” The trial court, hearing the case without a jury, ordered that the mortgage be reformed from $30,000 to $10,000 and that the mortgage, as reformed, be…