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LAKE v. EQUITABLE SAV. & LOAN ASS'N

No. 14119.

674 P.2d 419 (1983)

105 Idaho 923

Glenn B. LAKE and Susan K. Lake, husband and wife; and James M. Norfleet and Martha K. Norfleet, husband and wife, Plaintiff-Counterdefendants-Appellants, v. EQUITABLE SAVINGS AND LOAN ASSOCIATION, an Oregon corporation, Defendant-Counterclaimant-Respondent.

Supreme Court of Idaho.

December 2, 1983.

Attorney(s) appearing for the Case

Fredric V. Shoemaker, of Clemons, Cosho & Humphrey, P.A., Boise, for plaintiff-counterdefendants-appellants. James B. Donart, Ketchum, for Amicus Curiae, Idaho Consumer Affairs.

Gary D. Babbitt, Hawley Troxell Ennis & Hawley, Boise, for defendant-counterclaimant-respondent.

DONALDSON, Chief Justice.

In 1979, Glenn B. and Susan K. Lake purchased a home from an owner who had borrowed money from Equitable Savings. As security for the loan, the previous owners, Martha K. and James M. Norfleet, had given Equitable Savings a Deed of Trust containing a due-on-sale clause, a contractual provision that permits the lender to declare the entire balance of a loan immediately due and payable if the property securing the loan is sold or otherwise...

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