Tuley

This appeal is from a judgment for plaintiff (Margaretha Hoar) and against defendants (Donald L. Tuley and others) for the amount of a nonnegotiable promissory note dated January 19, 1965. The principal defense is that the promissory note was given for services which required a real estate broker’s license and the plaintiff’s assignor was not so licensed, and therefore the note was not supported by legal consideration.

The facts are that plaintiff was the divorced wife of one French. French received the note in question as part payment for services rendered in obtaining the termination of an option to purchase certain real property owned by defendants. The option was held by one Shannon, and it gave him the right to purchase some 878 acres in the Paso Robles area for $325 per acre. The termination date of the option was February 15, 1965. French had been involved in the transaction in which the option had been obtained, and was known to be on good terms with Shannon. The defendants came to the conclusion that the property could be sold at a higher figure and therefore desired that the option not be exercised. To obtain a termination of the option, defendants agreed to…