United American Life Insurance Co. v. Zions First National Bank

HALL, Chief Justice:

Plaintiff brought this action to compel defendant Zions First National Bank to re-convey a trust deed on unimproved land and permanently to enjoin the bank from proceeding with a trustee’s sale. The trial court found in favor of the bank and plaintiff appeals.

The record supports the following facts. In November, 1968, the bank loaned $150,-*159000 to Johnson Land Company (a partnership composed of Clifton Johnson, Glendon Johnson, Franklin Johnson and Bar 70 Ranches) and to Clifton Johnson, Franklin Johnson and Glendon Johnson, individually. A trust deed note was executed…