Ray Bjornstad v. George C. Perry and Enid

For clarity and simplicity the parties will be referred to by name. The Perrys, husband and wife, owned the "Boulevard Motel" in Coeur d'Alene, Idaho. The property was encumbered by a first
mortgage in the principal sum of nearly $10,000.00. The Perrys attempted to obtain a loan to pay off the mortgage and expand
the motel. After several potential lenders had refused such a loan, Mr. Perry early in 1957 placed the following ad in a local
newspaper: