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UNITED AMERICAN LIFE v. ZIONS FIRST NAT. BANK

No. 17187.

641 P.2d 158 (1982)

UNITED AMERICAN LIFE INSURANCE COMPANY, a corporation, Plaintiff and Appellant, v. ZIONS FIRST NATIONAL BANK, a national association, Defendant, Third-Party Plaintiff and Respondent, v. Franklin D. JOHNSON and Kathleen Johnson, his wife; Glendon E. Johnson and Bobette Johnson, his wife; Clifton I. Johnson; Johnson Lank Company, a partnership; and Bar 70 Ranches, Inc., a Nevada corporation, Third-Party and Additional Party Defendants and Respondents.

Supreme Court of Utah.

February 4, 1982.

Attorney(s) appearing for the Case

Edward M. Garrett of Garrett & Sturdy, Salt Lake City, for plaintiff and appellant.

Richard H. Nebeker, Salt Lake City, for defendant, third-party plaintiff and respondent.

HALL, Chief Justice:

Plaintiff brought this action to compel defendant Zions First National Bank to reconvey a trust deed on unimproved land and permanently to enjoin the bank from proceeding with a trustee's sale. The trial court found in favor of the bank and plaintiff appeals.

The record supports the following facts. In November, 1968, the bank loaned $150,000 to Johnson Land Company (a partnership composed of...

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