C & T Land & Development Company v. Bushnell

UDALL, Justice.

This appeal involves a dispute over the terms of a Trust Agreement wherein defendants (Paul and Edna Herrera, James Carter, Sr. and James Carter, Jr.) as First Beneficiaries, agreed to sell the property which was the subject of the Trust to plaintiff, C & T Land and Development Co., the Second Beneficiary. Plaintiff failed to make one of the annual payments and defendants caused a notice of default to be issued. Plaintiff then commenced this action to forestall the forfeiture of its interest under the Trust, alleging that the Trust by its terms gave plaintiff ten separate…