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GASSER v. HORNE

No. 14513.

557 P.2d 154 (1976)

Joseph S. GASSER, Jr., et al., Plaintiffs and Appellants, v. David M. HORNE et al., Defendants and Respondents, v. AMERICAN SAVINGS AND LOAN ASSOCIATION, a corporation, et al., Third-Party Defendants and Respondents.

Supreme Court of Utah.

November 18, 1976.

Attorney(s) appearing for the Case

Don B. Allen, Ray, Quinney & Nebeker, Salt Lake City, for plaintiffs and appellants.

Arthur H. Nielsen and Joseph L. Henriod, Nielsen, Conder, Henriod & Gottfredson, Salt Lake City, for Horne and others.

Alma H. Boyce and Ralph J. Marsh, Salt Lake City, for Am. Savings & Loan Assn.

ELLETT, Justice:

Prior to June 29, 1973, plaintiffs, Joseph S. Gasser, Jr., and Freda N. Gasser, owned 42.5% of a mobile home park in Davis County, Utah, known as the "Hillgate Terrace." In January of 1973, plaintiffs began negotiating to obtain a loan on the property sufficient to pay certain obligations of plaintiff, Joseph S. Gasser, Jr. to third parties, including a mortgage indebtedness owing on the property; and to...

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