Legal Opinion
McCausland v. Bankers Life Insurance Co. of Nebraska
Washington Supreme Court
Decided June 16, 1988No. 53436-5PublishedCited by 16 opinions
1Opinion of the Court
Andersen, J.—
Facts of Case
This declaratory judgment case raises issues concerning the validity of due-on-sale clauses and prepayment restrictions in commercial real estate financing transactions.
In 1984, appellant Bankers Life Insurance Company (lender), loaned $700,000 to Brent and Colleen McCausland (borrowers) at 13.25% interest for a term of 15 years. This commercial loan provided permanent financing for a retail shopping center owned by the borrowers. The borrowers gave the lender a promissory note and deed of trust. The note provided that no prepayment of principal could be made during…
2Cases cited12 opinions
- Fidelity Federal Savings & Loan Ass'n v. De La CuestaSupreme Court of the United States · 1982
- Bellingham First Federal Savings & Loan Ass'n v. GarrisonWashington Supreme Court · 1976
- Lazzareschi Investment Co. v. San Francisco Federal Savings & Loan Ass'nCalifornia Court of Appeal · 1971
- Morris v. WoodsideWashington Supreme Court · 1984
- Magney v. Lincoln Mutual Savings BankCourt of Appeals of Washington · 1983
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Viking Properties, Inc. v. HolmWashington Supreme Court · 2005
- Metropolitan Life Insurance v. StrnadSupreme Court of Kansas · 1994
- Baybank Middlesex v. 1200 Beacon Properties, Inc.District Court, D. Massachusetts · 1991
- Promenade Towers Mutual Housing Corp. v. Metropolitan Life InsuranceCourt of Appeals of Maryland · 1991
- Metropolitan Life Insurance v. Promenade Towers Mutual Housing Corp.Court of Special Appeals of Maryland · 1990
11 more not listed; retrieve them via the Exa API.