Opinion ID: 588206
Heading Depth: 2
Heading Rank: 3

Heading: The Financial Statement Warranty Claim

Text: 23 Hendricks also claims Callahan breached the Financial Statement Warranty because Note 12 of the Financial Statement indicated that the Aberdeen lease was cancellable when, in fact, the lease was not. After a bench trial, the court ruled that Hendricks failed to prove this breach of warranty claim. In his brief, Hendricks concedes that [a]t trial, the district court determined that there was no reliance on the warranty made by defendant [Callahan] concerning cancellability of the Aberdeen lease. Therefore, in the event this Court finds the reliance is a requirement, the district court determination as to Count III must be affirmed. Because we find that some form of reliance is required under Minnesota law, we affirm the district court's ruling on the Financial Statement Warranty claim.