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NATIONAL AMERICAN LIFE INSURANCE CO. v. BAINUM

No. 12669.

497 P.2d 854 (1972)

28 Utah 2d 45

NATIONAL AMERICAN LIFE INSURANCE COMPANY, Plaintiff and Respondent, v. Marvin L. BAINUM and Nadine M. Bainum, Defendants and Appellants.

Supreme Court of Utah.

May 31, 1972.

Attorney(s) appearing for the Case

Gordon I. Hyde, Salt Lake City, for defendants-appellants.

John W. Lowe, of Brayton, Lowe & Hurley, Salt Lake City, for plaintiff-respondent.

ELLETT, Justice:

The Bainums mortgaged their home to the plaintiff for a good and valuable consideration and failed to make the required payments on the mortgage. This suit was brought to foreclose the mortgage. The Bainums counterclaimed for stock which they claim had been converted by two men, Rush and Wilder, who owned 60 per cent of the stock of a holding company which had a controlling interest in the plaintiff corporation.

At trial the court dismissed...

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