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PETERSEN v. INTERMOUNTAIN CAPITAL CORPORATION

No. 12984.

508 P.2d 536 (1973)

29 Utah 2d 271

Stanford B. PETERSEN and Carol A. Petersen, his wife, Plaintiffs and Appellants, v. INTERMOUNTAIN CAPITAL CORPORATION, Defendant and Respondent. D. Spencer NILSON, Plaintiff and Respondent, v. Stanford B. PETERSEN and Carol A. Petersen, his wife, Defendants and Appellants.

Supreme Court of Utah.

April 4, 1973.

Attorney(s) appearing for the Case

Backman, Backman & Clark, Ralph J. Marsh, Salt Lake City, for appellants.

Spafford & Young, Gaylen S. Young, Jr., Salt Lake City, for respondents.

ELLETT, Justice:

This is an appeal from a dismissal of an action for damages based upon a claimed breach by Intermountain Capital Corporation, hereinafter called defendant, of an agreement to lend money to the Petersens, hereinafter called plaintiffs.

One of the terms of the written contract for the exchange of interest in parcels of real estate was the following:

Intermountain also agrees to loan Petersens Twenty Thousand Dollars ($20,000.00) within...

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