Western Plains Service Corporation, a South Dakota Corporation v. Ponderosa Development Corporation, a Wyoming Corporation, and Francis H. McVay

JOHN P. MOORE, Circuit Judge.

This is a diversity action brought by Western Plains Service Corporation (WPSC), appellee, to foreclose on a mortgage securing a promissory note executed by Ponderosa Development Corporation and Frank McVay (PDC collectively), appellants. PDC asserted a variety of counterclaims; 1 consequently, the case was submitted to a jury. Following a verdict finding generally for PDC, the trial court granted WPSC’s motion for judgment notwithstanding the verdict. PDC filed a motion for new trial which was denied. This appeal followed. The basic issue presented is whether the…