Pacific American Construction v. Security Union Title

DURHAM, Associate Chief Justice:

¶ 1 Appellant Security Union Title (“Security”) appeals from a final judgment in favor of Appellee Pacific American Construction (“Pacific”) following a bench trial before the district court.

¶2 This dispute is related to the case of Luddington v. Bodenvest, Ltd., 855 P.2d 204 (Utah 1993), the operative facts of which are relevant here. In the early 1980s, Granada, Inc., general partner for Bodenvest, Ltd., and its president, C. Dean Larsen, obtained a loan from Foothill Thrift, Pacific’s predecessor. Although the loan proceeds were disbursed to Granada alone,…