Court of Appeals of Minnesota February 25, 1986, C9-85-1408 (Lindberg v. Gebo)

OPINION

RANDALL, Judge.

Appellant executed a promissory note in favor of respondent for appellant’s down payment on Super Save Drugs, Inc., a business to be purchased jointly by the parties. Appellant pledged land located in Hubbard County, Minnesota, as collateral on the note. When the note came due, appellant defaulted and respondent served notice of foreclosure on the collateral.