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OCCIDENTAL SAV. & LOAN ASS'N v. VENCO

No. 42741.

293 N.W.2d 843 (1980)

206 Neb. 469

OCCIDENTAL SAVINGS AND LOAN ASSOCIATION, a corporation, Appellee, v. VENCO PARTNERSHIP, a partnership, and Midwest Crating and Packing Services, a partnership, Appellants.

Supreme Court of Nebraska.

June 17, 1980.

Attorney(s) appearing for the Case

Norman Denenberg, Omaha, for appellants.

Robert M. Zuber of Zuber & Ginsburg, Omaha, for appellee.

William A. Tinstman, Omaha, for amicus curiae Neb. League of Sav. Ass'n.

Heard before KRIVOSHA, C. J., and BOSLAUGH, McCOWN, CLINTON, BRODKEY, WHITE, and HASTINGS, JJ.

KRIVOSHA, Chief Justice.

The instant appeal presents the court with its first opportunity to consider the validity and enforceability of what is commonly referred to as a "due on sale" clause frequently found in a real estate mortgage. The trial court concluded that the "due on sale" clause was both valid and enforceable and, accordingly, ordered foreclosure of the mortgage containing the questioned clause. We have reviewed the files and records and the law applicable...

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