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SMITH v. SHORTALL

No. S-1343.

732 P.2d 548 (1987)

Steven Roy SMITH, Appellant, v. Helen P. SHORTALL, Appellee.

Supreme Court of Alaska.

February 13, 1987.

Attorney(s) appearing for the Case

Millard F. Ingraham, Anchorage, for appellant.

Laurel J. Peterson, Anchorage, for appellee.

Before RABINOWITZ, C.J., and BURKE, MATTHEWS, COMPTON and MOORE, JJ.

OPINION

MOORE, Justice.

Steven Smith and Helen Shortall were divorced on April 28, 1983. The divorce decree required Smith to execute a promissory note for $125,000 in Shortall's favor. The note was secured by a deed of trust on a warehouse apartment complex Smith owned. The note called for an initial payment of $10,000 followed by annual installments of $20,000, and contained an acceleration clause. In addition...

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