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FRAZIER v. NEILSEN & CO.

No. 18125.

794 P.2d 1160 (1990)

118 Idaho 104

Harold FRAZIER and Mary Lou Frazier, husband and wife, Plaintiffs-Respondents, v. NEILSEN & COMPANY, an Idaho partnership; Craig H. Neilsen; Mark Holmstead, as trustee of the Anderson Able Trust; the Anderson Able Trust; Mark Holmstead as trustee of the Anderson Baker Trust; the Anderson Baker Trust; Mark Holmstead as trustee of the Anderson Charlie Trust; the Anderson Charlie Trust; Mark Holmstead as trustee of the Anderson Cherokee Trust; the Anderson Cherokee Trust; Mark Holmstead as trustee of the Anderson Geronimo Trust; the Anderson Geronimo Trust; Mark Holmstead as trustee of the Anderson Mohawk Trust; the Anderson Mohawk Trust; Craig H. Neilsen as trustee of the Ray Neilsen Testamentary Trust; and the Ray Neilsen Testamentary Trust, Defendants-Appellants.

Court of Appeals of Idaho.

July 20, 1990.

Attorney(s) appearing for the Case

Loren C. Ipsen (argued), Moffatt, Thomas, Barrett, Rock & Fields, Boise, for defendants-appellants.

Russell G. Kvanvig (argued), Stephan, Kvanvig, Greenwood, Stone & Trainor, Twin Falls, for plaintiffs-respondents.

SWANSTROM, Judge.

Neilsen & Company appeals from the summary judgment awarding the Fraziers the money owing on a promissory note secured by a deed of trust on certain real property. Neilsen argues that an amendment to I.C. § 45-1503 by House Bill 274, passed during the 1989 legislative session, is applicable to this case and requires liquidation of the secured property before any other assets of the borrower can be reached for payment of the debt. For the...

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