Marcione
Bank of Seoul & Trust Co. v. Marcione
Opinion
Opinion
Hanson, J.
Introduction
Plaintiff Bank of Seoul and Trust Company appeals from an order sustaining the demurrer of defendants Conrad C., Lillian B., Eugene, and Geraldina Marcione without leave to amend and dismissing the first amended complaint. We reverse.
Standard of Review
In testing a complaint, a demurrer admits all material and issuable facts properly pleaded. However, it does not admit contentions, deductions, or conclusions of fact or law in the complaint. (Daar v. Yellow Cab Co. (1967) 67 Cal.2d 695, 713 [ 63 Cal.Rptr. 724 , 433 P.2d 732 ]; Serrano v. Priest (1971) 5 Cal.3d 584, 591 [ 96 Cal.Rptr. 601 , 487 P.2d 1241 , 41 A.L.R.3d 1187 ].)
Facts
Plaintiff’s first amended complaint alleged the following facts. Chul Soo and Kyung Sook Park owned improved real property in Burbank. The Parks, on September 3, 1980, to secure payment of the principal sum and interest provided in an all-inclusive note, executed and delivered to defendants a trust deed. The trust deed conveyed the property to Service Escrow Company as trustee, naming defendants as beneficiaries. Later G. T. Service Corporation (hereinafter sometimes G.T.) was substituted as trustee.