No. 1 CA-CIV 4174.

125 Ariz. 433 (1980)

610 P.2d 67

UNION CONSTRUCTION COMPANY, INC., an Arizona Corporation; Robert D. Evans and Sandra G. Evans, husband and wife, Appellants, v. BENEFICIAL STANDARD MORTGAGE INVESTORS, a California real estate investment fund, Appellee.

Court of Appeals of Arizona, Division 1, Department A.

Rehearing Denied February 22, 1980.

Review Denied March 18, 1980.

Attorney(s) appearing for the Case

Steiger, Helm, Kyle & McConnell, by Gene L. Steiger, John D. Helm, Tempe, for appellants.

Jennings, Strouss & Salmon by F. William Sheppard, Neil Vincent Wake, Phoenix, for appellee.


FROEB, Presiding Judge.

This is a suit upon a promissory note secured by a deed of trust upon real property. Our inquiry is whether the suit is barred because the holder failed to qualify to do business in Arizona and, if it is not, whether the guarantors of the note are liable notwithstanding an extension of time for payment without their consent.

The note, in the original amount of $514,000.00, was made by Traditional Development, Inc., an...

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