Merchants Bank of Indiana v. David Craik

Summary

The Seventh Circuit did not decide whether Indiana's One Action statute applies to a lender's simultaneous foreclosure and enforcement of mortgage guaranties, or whether contractual waivers of the statute are enforceable. Because those outcome-determinative questions involve unsettled Indiana law and important recurring issues, the court certified them to the Indiana Supreme Court and stayed the appeal. The merits of the summary-judgment disposition therefore remain unresolved.