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COMMERCIAL SECURITY BANK v. HODSON

No. 9821.

15 Utah 2d 388 (1964)

393 P.2d 482

COMMERCIAL SECURITY BANK, A CORPORATION, PLAINTIFF AND RESPONDENT, v. WAYNE HODSON, JERRY MORGAN, M.L. MORGAN, VANCE HODSON, AND H & M CATTLE COMPANY, A CORPORATION, DEFENDANTS AND APPELLANTS.

Supreme Court of Utah.

June 24, 1964.

Attorney(s) appearing for the Case

Barker & Ryberg, Leon A. Halgren, Salt Lake City, for defendant and appellant.

Olmstead, Stine & Campbell, Ogden, for plaintiff and respondent.

WADE, Justice.

Plaintiff Commercial Security Bank of Ogden, respondent here, sued Jerry and M.L. Morgan and Vance and Wayne Hodson, appellants here, for $32,000 on a promissory note. The defendants counterclaimed for $200,000 damages for breach of a contract by the bank in cancelling an agreement to loan them $300,000 which the bank knew they had already commenced to use to operate a "custom-kill" of cattle with McFarland, Inc., a Salt Lake City meat-packing plant...

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