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STRATFORD CORP. v. PACIFIC MUTUAL LIFE INS. CO.

No. 21462.

412 P.2d 233 (1966)

The STRATFORD CORPORATION, a corporation, Plaintiff in Error, v. PACIFIC MUTUAL LIFE INSURANCE COMPANY, Defendant in Error.

Supreme Court of Colorado, En Banc.

March 21, 1966.

Attorney(s) appearing for the Case

Modesitt & Shaw, Rodney O. McWhinney, Denver, for plaintiff in error.

Clarence L. Bartholic, Denver, for defendant in error.

MOORE, Justice.

Plaintiff in error will be referred to as the plaintiff, and defendant in error will be called Pacific Mutual or the defendant.

The plaintiff alleged in its amended complaint that on June 24, 1961, it sold a tract of land in Arapahoe county to the Alfa Development Company and received in payment a note for $6,976.14 which was secured by a first deed of trust upon the land. The plaintiff alleged that shortly after this sale,

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