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VAN VELSON CORP. v. WESTWOOD MALL ASSOCIATES

No. 20297.

884 P.2d 414 (1994)

126 Idaho 401

VAN VELSON CORPORATION, aka Van Velsor Corporation, Plaintiff-Counterdefendant-Appellant-Cross-Respondent, v. WESTWOOD MALL ASSOCIATES, a New York Partnership, Isaack Bernstein, Isaac Perlstein, Martin Freidman, Fischel Bernstein, Munkas Tora Academy, individually and as partners in Westwood Mall Associates; National Bank of Detroit; Valley Bank; West One Bank, Defendants-Counterclaimants-Respondents-Cross-Appellants.

Supreme Court of Idaho, Twin Falls, March 1994 Term.

October 27, 1994.

Attorney(s) appearing for the Case

Racine, Olson, Nye, Cooper & Budge, Pocatello, for appellant/cross-respondent. Fred J. Lewis, argued.

Ward, Maguire & Bybee, Pocatello, for respondent/cross-appellants. David H. Maguire, argued.

SILAK, Justice.

Van Velson Corporation (Van Velson) initially filed this suit as a foreclosure action against Westwood Mall Associates (Associates) claiming that Associates had defaulted on a $400,000 loan. Van Velson sought to recover the principal and interest on the loan, plus costs and attorney fees, and also to foreclose on the Westwood Mall property which Associates had mortgaged to secure the loan. Associates answered and counterclaimed, asserting that Van...

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