Moen v. Meidinger

MARING, Justice.

[¶ 1] Bruce W. Meidinger and Sherry L. Meidinger appealed a judgment awarding Kenneth 0. Moen $15,000, plus interest, costs, and disbursements in Moen’s suit to enforce Meidingers’ alleged guaranty of a debt owed by their corporation, Dakota Farm & Home, Inc. (Dakota). We conclude the trial court’s finding Moen reasonably believed Meidingers personally guaranteed Dakota’s debt is clearly erroneous, and we reverse.

[¶ 2] With a bank loan underwritten by the United States Small Business Administration (SBA), Meidingers bought the assets of Econo Farm & Home Centers, Inc. (Econo),…