Bank of Fairbanks, a Corporation v. A. L. Kaye, Jean Kaye and Josephine Boussard

DENMAN, Chief Judge.

The Bank of Fairbanks, hereafter the Bank, appeals from a judgment of the District Court for refusing to foreclose a mortgage of certain lands given by Mr. and Mrs. Kaye to secure promissory notes given by them to the Bank. The District Court held that the Bank had waived its right to declare the notes in default, by a novation agreement whereby the Kayes note indebtedness was transferred to and assumed by one Boussard and that the Bank was estopped from foreclosing the mortgage. The Bank contends the Court erred in finding such waiver and novation or that it was estopped…