Midway National Bank v. Gustafson

Knutson, Chief Justice.

This is an appeal from an order of the district court denying defendants’ motion for amended findings or, in the alternative, for a new trial.

The defendants are or have been stockholders or officers of All Star Bowl, Inc., a Minnesota corporation, which became insolvent while indebted to plaintiff bank. Plaintiff now seeks to recover against defendants as guarantors of All Star’s indebtedness.

The pertinent facts may be summarized as follows: On August 13, 1959, defendants Harry Gustafson, A. B. Osgood, and R. E. Gorgen each executed an instrument guaranteeing the…