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SPENCER AUTO SALES, INC. v. FIRST SECURITY BANK

No. 10942.

20 Utah 2d 145 (1967)

434 P.2d 455

SPENCER AUTO SALES, INC., PLAINTIFF AND RESPONDENT, v. FIRST SECURITY BANK OF UTAH, N.A., HEBER BRANCH, DEFENDANT AND APPELLANT.

Supreme Court of Utah.

November 27, 1967.

Attorney(s) appearing for the Case

Ray, Quinney & Nebeker, Don B. Allen, Salt Lake City, for appellant.

John L. Chidester, Heber City, for respondent.

TUCKETT, Justice.

This is an action commenced by the plaintiff, Spencer Auto Sales, Inc., to recover from the Bank a portion of a reserve account being held by the Bank to secure certain conditional sales contracts sold to the Bank by the plaintiff. The district court granted the plaintiff's motion for a summary judgment and the Bank is here seeking a reversal of the court's disposition.

On July 29, 1965, the Bank and Spencer Auto Sales entered into a contract...

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