Vesta State Bank v. Independent State Bank of Minnesota

OPINION

AMUNDSON, Judge.

Appellants challenge the district court’s denial of their two motions to amend their complaint and the grant of summary judgment for respondents. Respondents cross-appeal, challenging the district court’s partial denial of summary judgment. We affirm in part, reverse in part and remand.

FACTS

In December 1981, appellants Vesta State Bank and State Bank of Belview jointly purchased a lease investment package from respondents Independent State Bank of Minnesota (ISBM), Clayton Management, Inc. (Clayton), and Lease Resources Corporation (LRC). Under the lease package,…