| 10:00am | Monday, November 9, 2009 | |||||||||||||||
| 20090214 |
First International Bank & Trust, Plaintiff and Appellant
v. D. Duane Peterson, MID AM Group, LLC, James R. Bullis, Kevin L. Christianson, Richard R. Jordahl, Arlan H. Anderson, Greg Anderson, and Robert Green, Defendants and Appellees ----------- Douglas H. Peterson, Defendant | |||||||||||||||
| Appeal from: | East Central Judicial District, Cass County, Judge Frank L. Racek | |||||||||||||||
| Nature of Action: | Contracts | |||||||||||||||
| Counsel: |
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| Issues: |
Appellant's Statement of the Issues: First International Bank & Trust, the Plaintiff/Appellant ("FIB") presents this issue: (1) Must courts enforce a contract where parties have been paid to guarantee payment of mortgage indebtedness remaining after a foreclosure sale, as the guaranty states, and where they were warned that they would remain liable after a purchase at the Sheriff's Sale on Foreclosure by the mortgage? Appellee's Statement of the Issues: Where the Bank bid in the full amount of the indebtedness for a successful purchase of the property at a foreclosure sale, whether there remains any indebtedness to be pursued against the guarantors? Issues of Anderson, Anderson & Green [1] Is a personal guaranty extinguished when the lender purchases the underlying mortgaged property for the full amount of the underlying debt without establishing the fair market value or any deficiency as allowed by N.D.C.C. 32-19-06.1? Issues of Bullis, Christianson & Jordahl [1] Defendants Bullis, Christianson and Jordahl (the "Christianson Defendants") present this issue: Does liability exist under a personal guarantee of a real estate loan after a foreclosure sale, where the underlying indebtedness has been paid in full and no deficiency exists? | |||||||||||||||
| Briefs: |
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Generated from Supreme Court Docket on 04/19/2010 | ||||||||||||||||