MARONEY v. UNITED STATES FIDELITY AND GUARANTY CO.

No. 8864.

464 P.2d 401 (1970)

81 N.M. 111

Coy L. MARONEY and Lovington National Bank, Plaintiffs-Appellees, v. UNITED STATES FIDELITY AND GUARANTY COMPANY, Defendant-Appellant.

Supreme Court of New Mexico.

January 26, 1970.


Attorney(s) appearing for the Case

Keleher & McLeod, Patrick W. Hurley, Albuquerque, for defendant-appellant.

George L. Zimmerman, Alamogordo, for Coy L. Maroney.

Merrill L. Norton, Lovington, for Lovington National Bank.


OPINION

WATSON, Justice.

On the trial of this action without a jury, the court found that on July 28, 1963, Coy L. Maroney had entered into a 20-year lease of a parcel of land with E.E. Miller, and that Maroney had borrowed money from Lovington National Bank, had used the proceeds to build a dwelling on the leased property, and had given a security agreement, an agreement, and a bill of sale on the dwelling to the Bank to secure repayment of the loan. The...

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