Lundgren v. Givan's, Inc.
Lundgren v. Givan's, Inc.
Opinion of the Court
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. In the foreclosure proceedings the mortgagor complained that the court did not require sale of such stock first in at least partial satisfaction of the' debt, which is the basis for this appeal.
property mortgaged by the mortgagor failed to produce sufficient to satisfy the mortgage debt.
Reference
- Full Case Name
- Roy LUNDGREN, and v. GIVAN'S, Incorporated, a corporation, and and Pacific Finance Corporation, a corporation, Utah State Tax Commission, State of Utah, Farmer's State Bank, a corporation
- Status
- Published