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CULP v. TRI-COUNTY TRACTOR, INC.

No. 16152.

736 P.2d 1348 (1987)

112 Idaho 894

Dennis CULP and Roger Newton, Plaintiffs-Respondents, v. TRI-COUNTY TRACTOR, INC., Defendant-Appellant.

Court of Appeals of Idaho.

April 9, 1987.

Attorney(s) appearing for the Case

Laird B. Stone (Nelson, Rosholt, Robertson, Tolman & Tucker), Twin Falls, for defendant-appellant.

J. Walter Sinclair (Benoit, Alexander, Sinclair, Harwood & High), Twin Falls, for plaintiffs-respondents.

SUBSTITUTE OPINION

Upon Denial of Petition for Rehearing

This opinion supersedes the Court's prior opinion dated August 22, 1986.

BURNETT, Judge.

This case presents difficult issues of law and equity relating to subordination agreements. The central question is whether subordinated promissory notes may be deemed in default, and accelerated, while a senior obligation remains outstanding. The district court answered this question in the...

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