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DAVIS v. DAVIS

No. 43324-5.

196 N.W.2d 473 (1972)

Emery DAVIS, et al., Appellants, v. Melba E. DAVIS, as executrix of the will and estate of Burton F. Davis, deceased, and Floyd E. Ensign, as executor of the will and estate of Loren L. Davis, deceased, Respondents.

Supreme Court of Minnesota.

March 31, 1972.

Attorney(s) appearing for the Case

Babcock, Locher, Neilson & Mannella, and John M. Burke, Anoka, for appellants.

Baudler & Baudler, Austin, Ensign & Ensign, Northwood, Iowa, for respondents.

Johnson, Thompson, Spring & Klaverkamp and John Parsinen, Minneapolis, for Prudential Ins. Co., amicus curiae.

Russell W. Lindquist, Duane E. Joseph, Loren R. Knott, Bruce W. Burton, Thomas S. Erickson, Robert A. Heiberg, and David Graven, Minneapolis, amicus curiae.

Heard before KNUTSON, C. J., and OTIS, PETERSON, TODD, and MASON, JJ.

OTIS, Justice.

The issue raised by this appeal is whether an acceleration clause in a mortgage requires the mortgagor to tender the entire principal balance in order to reinstate the mortgage under Minn.St. 580.30. The trial court held such tender necessary and we reverse.

The parties have stipulated to the facts. Two mortgages are involved, in both of which plaintiffs, Emery Davis and Clarice Davis, are mortgagors. In the mortgage executed in 1958, Burton...

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