Comstock

Comstock v. Fiorella

Good Law
1968 Cal. App. LEXIS 1852·260 Cal. App. 2d 262·67 Cal. Rptr. 104
Court of Appeal of CaliforniaMarch 20, 1968Civ. 8673California1,680 words

Opinion

Opinion

McCABE, J.

—Plaintiff appeals from a summary judgment entered in favor of defendant. The trial court found Code of Civil Procedure, section 580b, prevented its rendering a deficiency judgment.

The evidence reflects assets of a partnership, in which plaintiff and defendant were the sole members, consisted of a bank account, real property, furniture and fixtures, gardening equipment and rents due from tenants occupying the real property. A section of the preamble to the written partnership dissolution agreement provided, “. . . Whereas, the parties have agreed to terminate the partnership and to distribute the partnership assets between them. ...” The agreement pro vided in part that: (a) debts of the partnership would be promptly paid; (b) closing income tax returns would be prepared and filed; (e) the partnership property would be transferred to Fiorella who would assume the encumbrance then existing on a parcel of real property owned by the partnership and give a note for $6,500 to his partner, Comstock, which note was to be secured by a junior trust deed on the real property. By the terms of the agreement, as incorporated into the note, no payment of either principal or interest would be…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.