BJORNSTAD v. PERRY

No. 9945.

443 P.2d 999 (1968)

92 Idaho 402

Ray BJORNSTAD, Plaintiff and Cross-Defendant, Appellant and Respondent to 1st and 2nd Cross-Appellants, v. George C. PERRY and Enid Perry, husband and wife, Defendants and Cross-Claimants, 2nd Cross-Appellants and Respondents to Appellant and 1st Cross-Appellant. Ray BJORNSTAD, Third-Party Plaintiff, Appellant and Respondent to 1st and 2nd Cross-Appellants, v. GRIDLEY INVESTMENT COMPANY, a corporation, Third-Party Defendant, 1st Cross-Appellant and Respondent to Appellant.

Supreme Court of Idaho.

July 24, 1968.


Attorney(s) appearing for the Case

E.L. Miller, Coeur d'Alene, and Stephen Bistline, Sandpoint, for appellant Bjornstad.

H.S. Sanderson, Coeur d'Alene, for respondents Perry.

Hawkins & McCabe and Wm. D. McFarland, Coeur d'Alene, for respondent Gridley Investment Co.


TAYLOR, Justice.

For clarity and simplicity the parties will be referred to by name.

The Perrys, husband and wife, owned the "Boulevard Motel" in Coeur d'Alene, Idaho. The property was encumbered by a first mortgage in the principal sum of nearly $10,000.00. The Perrys attempted to obtain a loan to pay off the mortgage and expand the motel. After several potential lenders had refused such a loan, Mr. Perry early in 1957 placed the following ad in a local newspaper...

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