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WELLS FARGO BANK, N.A. v. MIDWEST REALTY & FIN., INC.

No. 14028.

544 P.2d 882 (1975)

WELLS FARGO BANK, N.A., a corporation, Plaintiff and Respondent, v. MIDWEST REALTY & FINANCE, INC., a corporation, Defendant and Appellant.

Supreme Court of Utah.

December 26, 1975.

Attorney(s) appearing for the Case

Dean E. Conder, Nielsen, Conder, Hansen & Henriod, Richard H. Moffat and John L. Young, Moffat, Welling, Paulsen & Burningham, Salt Lake City, for defendant and appellant.

Randon W. Wilson, Robert M. McDonald and James S. Lowrie, Jones, Waldo, Holbrook & McDonough, Salt Lake City, for plaintiff and respondent.

CROCKETT, Justice:

Plaintiff, Wells Fargo Bank, sued defendant, Midwest Realty & Finance, Inc., to recover for loans made to defaulting Lee Chair Corporation, for which Midwest had signed two successive guaranty agreements, one in November, 1970, for $60,000; and another in December, 1970, for $130,000. Midwest's defense was that by a letter quoted below, it had notified Wells Fargo of its revocation of the guaranty, as permitted by the contract, before Wells...

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