No. 13948.

122 Ariz. 226 (1979)

594 P.2d 92

SOUTHWEST SAVINGS AND LOAN ASSOCIATION, an Arizona Corporation, Appellant, v. Ralph J. LUDI and Loretta L. Ludi, husband and wife, Appellees.

Supreme Court of Arizona, In Division.

April 5, 1979.

Attorney(s) appearing for the Case

Cahill, Hanson, Phillips & Mahowald by Gregory E. Hinkel, Phoenix, for appellant.

Kenneth P. Clancy, Phoenix, for appellees.

HAYS, Justice.

This is an appeal by Southwest Savings and Loan Association (Southwest) from a summary judgment in favor of Ralph and Loretta Ludi (Ludis). We have jurisdiction pursuant to 17A A.R.S. Supreme Court Rules, rule 47(e)(5). We reverse.

The parties have stipulated to the following facts. In 1972, purchaser A borrowed money from Southwest to purchase certain real property and in exchange gave Southwest a...

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