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WASESCHA v. TERRA, INC.

No. 13668.

528 P.2d 802 (1974)

Thelma B. WASESCHA, Plaintiff and Respondent, v. TERRA, INC., and LaMar S. Wasescha, Defendants and Appellants. TERRA, INC., a Utah Corporation, Cross-Claimant and Appellant, v. LaMar S. WASESCHA, Cross-Defendant.

Supreme Court of Utah.

November 14, 1974.

Attorney(s) appearing for the Case

Richard M. Day (for Terra, Inc.), of Meredith, Barber & Day, Alan D. Frandsen, Salt Lake City (for Terra, Inc.), for defendants-appellant.

Bryce E. Roe, of Roe & Fowler, Salt Lake City, for Thelma Wasescha.

Herschel J. Saperstein, of Moyle & Draper, Salt Lake City, for LaMar S. Wasescha.

ELLETT, Justice:

The Waseschas borrowed $5,000 from Terra, Inc., on October 8, 1970, and gave a note secured by a mortgage on realty which Mrs. Wasescha owned jointly with her prior husband. The Waseschas promised to pay 18 per cent interest per year on unpaid balances. They made some payments but later became in arrears pursuant to the terms of the note and mortgage.

On January 4, 1972, the Waseschas got a release of the mortgage and borrowed money from a...

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