FIRST AMERICAN COMMERCE CO. v. WASHINGTON MUTUAL SAVINGS BANK 743 P.2d 1193 (Utah 1987). CASE BRIEF

FIRST AMERICAN COMMERCE CO. V. WASHINGTON MUTUAL SAVINGS BANK

743 P.2d 1193 (Utah 1987)

NATURE OF THE CASE: This was an appeal from an action to collect monies owed.

FACTS: First Security Realty Services (D) agreed to loan money to First American Commerce (P) subject to D's approval of all new leases. D then assigned its rights to Washington Mutual Savings Bank (D1). Neither D1 nor D consented to a new lease. After P had performed the conditions, it requested disbursement of the outstanding loan amount but D refused claiming that the duty followed the assignment. P sued. The court awarded D a summary judgment; the assignment terminated its duties to P. P appealed.

ISSUE:

RULE OF LAW:

HOLDING AND DECISION:

LEGAL ANALYSIS:

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