Aetna Life Insurance Company v. David R. Anderson
Court of Appeals for the Eighth Circuit
1Opinion of the Court
BOWMAN, Circuit Judge.
Aetna Life Insurance Company (Aetna) brought this diversity suit against David R. Anderson (Anderson) seeking to collect on a guaranty. After a bench trial, judgment was entered in favor of Aetna. Anderson appeals. We affirm.
I
Anderson was the president and a shareholder of Ineba Ranch, Inc. (Ineba Ranch). On May 19, 1978, Aetna made a loan to Ineba Ranch in the principal amount of $550,000 and, in return, Ineba Ranch executed and delivered a promissory note to Aetna. The note was secured by a mortgage on the real property owned by Ineba Ranch in Union County, Iowa. 1…
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