Penn Mutual Life Insurance v. Utne

DONOVAN, District Judge.

This a non-jury diversity action to recover amounts allegedly due and owing plaintiff on five promissory notes executed by defendant. The substantive law of Minnesota controls disposition.

Plaintiff is The Penn Mutual Life Insurance Company, a Pennsylvania-corporation. Defendant is a citizen of Minnesota. The complaint alleges that while defendant was a general agent of plaintiff, the plaintiff made several loans of money totaling $20,500.00 to defendant in return for which defendant made, executed and delivered to plaintiff five promissory notes. Dui'ing the…