American Falls Canal Securities Co. v. American Savings & Loan Ass'n

HALL, Chief Justice:

Defendant American Savings and Loan Association (“American Savings”) appeals the judgment of the district court which awarded to plaintiff American Falls Canal Securities Company (“American Falls”) the proceeds of a foreclosure sale determined to be in excess of the obligation secured by a trust deed. American Savings advances on appeal the same principal arguments presented to the trial court, namely, that there were no proceeds generated at the foreclosure sale because American Savings made the only bid, which was a credit bid of existing indebtedness, and that American…