Moen v. Meidinger

MESCHKE, Justice.

Bruce W. Meidinger and Sherry L. Meid-inger appealed from a corrected summary judgment awarding Kenneth 0. Moen $15,-000, plus interest, costs, and disbursements, in Moen’s lawsuit to enforce the Meidingers’ alleged guaranty of a debt owed by their corporation, Dakota Farm & Home, Inc. (Dakota). We reverse and remand.

On March 28, 1984, with a $240,000 loan from First National Bank of Bowman, underwritten by the United States Small Business Administration (SBA), to Dakota, Meidingers purchased the assets of Econo Farm & Home Centers, Inc., in Bowman, North Dakota, and…