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FIRST NAT. BANK OF SANTA FE v. ESPINOZA

No. 12770.

618 P.2d 364 (1980)

95 N.M. 20

FIRST NATIONAL BANK OF SANTA FE, Plaintiff-Appellee, v. Reginaldo ESPINOZA, II, Defendant-Third Party Plaintiff-Appellant, v. CHAMISA BROADCASTING COMPANY and James F. Hoffman, Third Party Defendants-Appellees.

Supreme Court of New Mexico.

October 23, 1980.

Attorney(s) appearing for the Case

Standley & Suzenski, Robert Suzenski, Santa Fe, for defendant-third party plaintiff-appellant.

White, Koch, Kelly & McCarthy, Kenneth Bateman, Daniel H. Friedman, Santa Fe, for plaintiff-appellee.

OPINION

SOSA, Chief Justice.

This case addresses the issue of whether a third-party complaint filed pursuant to Rule 14(a) N.M.R. Civ.P. 14, N.M.S.A. 1978 (Repl.Pamp. 1980), was properly dismissed.

First National Bank loaned $40,000 to Reginaldo Espinoza, II, for which Espinoza executed a promissory note. The note was secured by Espinoza's assignment to the Bank of his right to payment under a consulting contract for $25,000 executed by third-party...

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