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VALLEY BANK & TR. v. RITE WAY CONCRETE

No. 860018-CA.

742 P.2d 105 (1987)

VALLEY BANK AND TRUST COMPANY, a Utah corporation, Plaintiff, v. RITE WAY CONCRETE FORMING, INC., a Utah corporation, Peter Lowe, Jr., J. Randall Outsen, Tracy M. Jones, Richard H. Lowe, and Don Bailey Construction, Inc., a Utah corporation, Defendants. Peter LOWE, Jr., and Richard H. Lowe, Cross-Complainants, Third-Party Plaintiffs and Appellants, v. DON BAILEY CONSTRUCTION, INC., a Utah corporation, Cross-Defendants and Respondents, and Don Bailey, Draper Bank, a Utah corporation, and Jacobsen-Robbins Construction Company, Inc., a Utah corporation, Third-Party Defendants.

Court of Appeals of Utah.

September 1, 1987.

Attorney(s) appearing for the Case

Arthur H. Nielsen, Richard Hincks, Nielsen & Senior, Salt Lake City, for Jacobsen-Robbins Const. Co.

Dwight L. King, Salt Lake City, for Draper Bank and Trust.

Arthur F. Sandack, Salt Lake City, for Tracy Jones.

K.L. McIff, Jackson, McIff & Mower, Richfield, for Peter M. Lowe, Jr. and Richard H. Lowe.

Paul D. Veasy, W. Jeffery Fillmore, Biele, Haslam & Hatch, Salt Lake City, for Valley Bank and Trust Co.

Before ORME, DAVIDSON and GARFF, JJ.

GARFF, Judge:

Defendants Peter Lowe, Jr. and Richard H. Lowe appeal from a summary judgment in favor of plaintiff Valley Bank and Trust (Bank) finding defendants liable as guarantors of a promissory note executed by Rite Way Concrete Forming, Inc. (Rite Way) and awarding plaintiff attorney fees. We remand for hearing consistent with this opinion.

Rite Way executed a promissory note for $15,000.00 at 12.75% interest per annum in favor of the Bank for the purpose...

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