Leigh Furniture and Carpet Co. v. Isom

OAKS, Justice:

In 1970, Leigh Furniture and Carpet Co., a corporation, sold a furniture business in St. George to T. Richard Isom on a contract specifying a $20,000 down payment for immediate possession, with the balance of $60,000 at $500 per month plus interest for ten years.

In 1975, when the contract balance was $27,000, Leigh Furniture (hereafter “the Leigh Corporation”) brought this action against Isom to repossess the business, terminate his interest under the contract, and obtain a deficiency judgment for any sums due after liquidation. Isom denied that he was in default under the…