Madden v. Barnes

KRUCKER, Judge.

This case comes to us on appeal from the granting of a partial summary judgment in an action involving a mortgage foreclosure.

The conflict arose out of the following facts. On June 7, 1966, defendant-appellant Becky Madden executed a note for $75,000, secured by a mortgage on certain real property in the Phoenix area, in favor of the plaintiff-appellee Edward Barnes. On June 14, 1966, appellant borrowed $75,-000 from the Valley National Bank. The promissory note was due in 360 days, interest at six percent. It contained the usual acceleration clause in case of default, with…