Romero v. Schmidt

mcdonougi-i, justice:

This is an action to foreclose a real estate contract as a note and mortgage.

Romero and Schmidt entered into a uniform real estate contract for the purchase and sale of a home in Salt Lake City. For 13 months Schmidt made prompt regular payments to Romero, and in September, 1962, assigned his interest to Wilcox, who desired the home for resale. Wilcox found a buyer, Casey, to whom he desired to make the assignment; but to do so he needed a verified contract balance, for which purpose Wilcox and Casey approached Romero. On the first meeting Romero instructed his accountant…