Duncan v. Lagunas

Bell, Justice.

This case concerns whether the appellee, Lagunas, had the authority to accelerate the balance of a note executed by the appellant, Duncan, and then proceed to foreclose on the real property conveyed in exchange for the note and pledged as security therefor.

On March 20, 1982, Lagunas conveyed certain real■ property to Duncan in exchange for Duncan’s execution and delivery to him of a promissory note and security deed. The note was payable in 120 consecutive monthly installments, and it provided for the first payment to be made on March 20, 1982, and for the rest of the…