Quimbee logo
DMCA.com Protection Status
From our private database of 18,400+ case briefs...

First State Bank of Forsyth v. Chunkapura

Montana Supreme Court
734 P.2d 1203 (1987)


Facts

In October 1980, the Chunkapuras (defendants) executed a promissory note for $17,000 to First State Bank of Forsyth (plaintiff), secured by a deed of trust for property to trustee First Montana Title Insurance Company, naming the bank as beneficiary. The Chunkapuras made payments on the note totaling $2,042.98, after which they defaulted. Thereafter, the bank brought an action for the unpaid principal, interest, sale of the property securing the note, and a deficiency judgment after the sale proceeds were applied. The bank then purchased the property at the sheriff’s sale for $10,000 as the only bidder. The district judge concluded that the bank was barred from obtaining a deficiency judgment under the Small Tract Financing Act (the act). The bank appealed, contending that because it chose to proceed by judicial foreclosure rather than trustee sale, it was entitled to a deficiency judgment.

Rule of Law

Issue

Holding and Reasoning (Sheehy, J.)

Dissent (Weber, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 496,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 496,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 18,400 briefs, keyed to 985 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Questions & Answers


Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial