Citizens State Bank of Des Moines v. Hansen

NEUMAN, Justice.

This is an appeal from the district court’s refusal to quash the “sale” of a suit for specific performance. We reverse.

The facts in this consolidated appeal are not disputed. Both suits concern a 340-acre parcel of Dallas County farmland formerly owned by appellant Hansen-Friedri-chsen, Inc. The land served as partial security for over $2 million in promissory notes executed by Hansen-Friedrichsen and its guarantor, appellant Jerry F. Hansen, in favor of appellee Citizens State Bank of Des Moines. 1

Upon default by the appellants, the bank brought separate suits to foreclose…