Barr Development, Inc. v. Utah Mortgage Loan Corp.

DONALDSON, Chief Justice.

In December of 1975, Utah Mortgage Loan Corp., the defendant-appellant, granted a $184,000.00 loan at ten percent (10%) to the Havenhurst Corporation. As security for the loan, Havenhurst granted a Deed of Trust to property located in Bonneville County, Idaho. The Deed of Trust restricted the trustor’s ability to alienate the property by stating that the entire loan balance would be due upon alienation.

*47In 1977 Barr Development, the plaintiff-respondent, conducted business transactions with the Havenhurst Corporation resulting in obligations being owed to Barr…