LUNDGREN v. GIVAN'S, INCORPORATED

No. 8327.

3 Utah 2d 301 (1955)

283 P.2d 221

ROY LUNDGREN, PLAINTIFF AND RESPONDENT, v. GIVAN'S, INCORPORATED, A CORPORATION, DEFENDANT AND APPELLANT, AND PACIFIC FINANCE CORPORATION, A CORPORATION, UTAH STATE TAX COMMISSION, STATE OF UTAH, FARMER'S STATE BANK, A CORPORATION, ET AL., DEFENDANTS.

Supreme Court of Utah.

May 2, 1955.


Attorney(s) appearing for the Case

Patrick H. Fenton, Cedar City, A. Pratt Kesler, U.S. Dist. Atty., Salt Lake City, for appellant.

Orville Isom, Cedar City, for respondent.


HENRIOD, Justice.

Appeal from a foreclosure judgment. Affirmed. Costs to respondent.

Real and personal property were mortgaged by Givan's Inc. to secure a loan. A group of its shareholders who were not signatories to the mortgage and note and not litigants here, in writing pledged their personal stock to secure the loan. After the second payment on the note, the mortgagor defaulted. The mortgagee waived any claim against the personal shares mentioned...

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