Powerine Co. v. Zion's Sav. Bank & Trust Co.

LARSON, Justice.

The factual situation here involved and the authority for our decision is contained in the report of the first appeal of this case in 103 Utah 441, 135 P. 2d 906.

We there decided the following propositions:(1) That the credit application, plaintiff’s exhibit “A” was in fact a letter of credit from John H. Russell to the Powerine Company, whereby he lent his credit to his son George R. Russell and to Russell’s Inc., on an open account with plaintiff.(2) That John H. Russell was not liable on the chattel mortgage, or for any deficiency after foreclosure sale of the mortgaged…