UTAH MORTG. AND LOAN CO. v. Black

CROCKETT, Chief Justice:

Plaintiff Utah Mortgage Loan Corporation sued to recover the unpaid balance of $36,760.01 on a $675,715.00 subdivision loan which it had advanced to defendants Don J. Black (since deceased), Betty J. Black and Don J. Black Realty, Inc., and for which defendants had executed a promissory note, and a trust deed of real property.

On the basis of the submissions, the defendants moved for summary judgment on the ground that the plaintiff had released all of the lots and, under the so-called “one-action rule,” 1 could not then recover a deficiency against the defendants. From…