Frazier v. Neilsen & Co.

THE PREVIOUS OPINION ISSUED AUGUST 17, 1988, IS HEREBY WITHDRAWN AND THIS OPINION IS SUBSTITUTED THEREFOR.

McQUADE, Justice, Pro Tem.

The issue presented in this case is whether the holders of a promissory note secured by a deed of trust encumbering Idaho real property may sue for a money judgment on the note without first exhausting their security by judicial foreclosure or by exercise of the power of sale. We hold that they may.

The facts may be summarized as follows: plaintiffs-respondents, the Fraziers, sold *740certain real property to the defendants-appellants, Neilsen & Company. The buyers…