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ELSON DEVELOPMENT CO. v. ARIZONA SAVINGS & L. ASS'N

No. 8457.

99 Ariz. 217 (1965)

407 P.2d 930

ELSON DEVELOPMENT CO., an Arizona corporation, Appellant, v. ARIZONA SAVINGS AND LOAN ASSOCIATION, an Arizona corporation in receivership, Appellee.

Supreme Court of Arizona. En Banc.

Rehearing Denied December 21, 1965.

Attorney(s) appearing for the Case

Stockton & Hing, Phoenix, for appellant.

David J. Perry and Ralph G. Smith, Jr., Phoenix, for appellee.

McFARLAND, Justice.

Appellee, the Arizona Savings and Loan Association, an Arizona corporation in receivership, hereinafter designated as Arizona Savings, brought suit against the Elson Development Company, an Arizona corporation, as principal defendant, hereinafter designated as Elson, and others to recover the balance due on a note, in the principal sum of $2,086,808.32 — together with various items of interest,...

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