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eBook details

• Title: Schultz v. Stevens
• Author : Supreme Court of Montana
• Release Date : January 19, 1988
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 54 KB

Description

Submitted on Briefs June 9, 1988 Defendants, Craig A. Stevens and Stevens Construction, Inc., appeals the decision of the District Court of the Thirteenth Judicial District, Yellowstone County, ordering that the defendants pay the plaintiff, William K. Schultz, nineteen thousand eight hundred dollars ($19,800.00) plus 10 percent interest from May 21, 1984, as a result of the promissory note executed by Stevens on behalf of himself and the Stevens Construction, Inc. We affirm and remand The sole issue on appeal is whether the District Court erred in interpreting the promissory note and mortgage executed between the plaintiff Schultz and the defendants Stevens and Stevens Construction, Inc Plaintiff-respondent, William K. Schultz, was a licensed realtor in Billings from approximately 1982 to 1985. Schultz was looking at houses when he first met defendant-appellant, Craig A Stevens, in 1981 or 1982. At that time, Schultz owned Lots 21 and 22 in Block 1, Lillis Heights Subdivision and Stevens expressed an interest in purchasing these two lots. Stevens purchased these lots and eventually built a house on Lot 22. Schultz subsequently had Stevens build a house for him on Lot 18 for resale but instead moved into the house himself While building Schultz's house on Lot 18, Stevens expressed an interest in building a house on another lot owned by Schultz Schultz agreed to convey by warranty deed this lot, Lot 4, Block 1, Lillis Heights Subdivision, to Stevens for $19,800. Prior to delivering the deed to Lot 4 to Stevens, Schultz had Stevens execute a promissory note and mortgage that was dated May 21, 1984. The promissory note executed by Stevens reads as follows: ""For Value Received the undersigned CRAIG A. STEVENS AND STEVENS CONST. INC., OF BILLINGS MONTANA, promise to pay to the order of William K. Schultz, of Billings, Montana, the sum of Nineteen Thousand Eight Hundred ($19,800.00), as follows:

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