LAWRENCE v. VALLEY NATIONAL BANK

Nos. I CA-CIV 1000, I CA-CIV 931.

12 Ariz. App. 51 (1970)

467 P.2d 763

M. Taylor LAWRENCE, Jr., and Bettie A. Lawrence, his wife, and Arthur J. Stegall, Jr., and Rosann Stegall, his wife, Appellants, v. VALLEY NATIONAL BANK, a national banking association, Appellee. ARIZONA-COLORADO LAND & CATTLE COMPANY, a corporation, Cross-Appellant, v. M. Taylor LAWRENCE, Jr., and Bettie A. Lawrence, his wife, and Arthur L. Stegall, Jr., and Rosann Stegall, his wife, Cross-Appellees.

Court of Appeals of Arizona, Division 1.

Rehearing Denied May 29, 1970.

Review Denied July 7, 1970.

Review Granted November 10, 1970.


Attorney(s) appearing for the Case

Jennings, Strouss & Salmon, by O.M. Trask, Thomas C. Kleinschmidt, Rex H. Moore and T.J. Trimble, Phoenix, for appellants and cross-appellees.

Rawlins, Ellis, Burrus & Kiewit, by Chester J. Peterson and Dennis M. Balint, Phoenix, for appellee.

Snell & Wilmer by Mark Wilmer, Phoenix, for cross-appellant.


HOWARD, Chief Judge.

A civil action was instituted by plaintiff-appellee, Valley National Bank, hereinafter referred to as the "Bank," to recover the unpaid balance on a promissory note. The defendants-appellants are Lawrence, Stegall, Brown and their wives, individually and as co-partners d/b/a Lawrence, Stegall and Brown. The note was in the sum of $496,834.41 and the unpaid balance was $84,527.04 plus interest and...

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