NIXON v. AMERICAN SAV. & LOAN ASS'N

No. 17210.

635 P.2d 24 (1981)

Robert B. NIXON and Myrene K. Nixon, for themselves and all others similarly situated, Plaintiffs and Appellants, v. AMERICAN SAVINGS & LOAN ASSOCIATION, Defendant and Respondent.

Supreme Court of Utah.

July 16, 1981.


Attorney(s) appearing for the Case

Robert J. DeBry, Salt Lake City, for plaintiffs and appellants.

Kent H. Murdock, Alma H. Boyce, Salt Lake City, for defendant and respondent.


HOWE, Justice:

This is an appeal from a summary judgment in favor of the defendant in a suit brought by plaintiffs to recover interest on a reserve account held by defendant in connection with a real estate loan it had made to plaintiffs.

In 1977 the plaintiffs borrowed money from the defendant to purchase a home, securing the loan by a trust deed on the property. The trust deed required the plaintiffs to make monthly deposits into a reserve account held by...

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