Story

These are appeals from a judgment in favor of respondents following the sustaining of their demurrers to the second amended complaint without leave to amend.

It is alleged that while Glenoaks, Inc., was engaged in subdividing and selling a tract of land in Los Angeles County, it sought to obtain from appellant’s assignor, Pacific-Southwest Trust & Savings Bank, the sum of $625,000, and proposed to sell its bonds to the bank in the said amount; that the bank agreed to purchase the said bonds upon condition that the payment thereof be guaranteed by the respondents; that for the purpose of inducing the bank to purchase the bonds, the respondents executed an instrument in uniting which appellant asserts is an agreement of guaranty, whereupon the bank purchased the bonds and Glenoaks, Inc., executed a trust indenture securing the same. Default having occurred in the payment of the bonds, this action was commenced to recover from the respondents the amounts alleged to have been guaranteed by them respectively.

The instrument sued upon bears the heading “guarantee note” and .by its terms the respondents promised to pay all sums of money which the bank had theretofore advanced or loaned…