Wooton
Wooton v. Coerber
Opinion
Concurring Opinion
Ashburn, J.
I concur in the judgment because the evidence discloses room for the trial judge’s conclusion that the instant transaction was not usurious. But I would add a few observations designed to define the exact legal basis upon which his judgment may be sustained.
The record reflects all the indicia of an usurious loan. Defendant Coerber rejected a joint venture or partnership and the parties on October 17, 1957, entered into a deal which involved Coerber’s 1 advancing upon plaintiffs’ promissory note for $17,050, the $15,500 necessary to enable them to complete the purchase of 480 acres of land which they had an option to buy for $115 an acre, assuming a first trust deed of some $37,000; plaintiffs had $500 invested and were unable to complete or advance any further money upon the down payment of $15,500; the note, signed by plaintiffs, was to be in the principal sum of $17,050, secured by a second trust deed upon the land to be acquired and payable in full on January 2, 1958; in addition, defendant was to receive a $2,500 note of a third person which was secured by a second trust deed upon certain other land. Also a grant deed cover *155 ing the property to be acquired and running in…
Lead Opinion
Herndon, J.
This appeal is taken by plaintiffs from a judgment entered in favor of defendants after a nonjury trial wherein plaintiffs sought to recover treble damages for alleged usurious interest charges. As their grounds for urging a reversal, appellants argue that the evidence is insufficient to support the trial court’s findings: (1) that the money advanced by respondents was their contribution to a joint venture involving the purchase of real estate, and not a loan; *145 (2) that respondents held an option to purchase the real estate involved; and (3) that “there was an accord and satisfaction by and between the plaintiffs and the defendants on or about December 9, 1958.”
As recently stated in Gruner v. Barber, 207 Cal. App.2d 54 , at page 57 [ 24 Cal.Rptr. 292 ] : “We find ourselves immediately presented with the oft-repeated and time-honored rule that when a finding of fact is attacked on the ground that there is not any substantial evidence to sustain it, the power of an appellate court begins and ends with the determination as to whether there is any substantial evidence, contradicted or uncontradicted, that will support the finding, and when two or more inferences can reasonably…
Opinion
This appeal is taken by plaintiffs from a judgment entered in favor of defendants after a nonjury trial wherein plaintiffs sought to recover treble damages for alleged usurious interest charges. As their grounds for urging a reversal, appellants argue that the evidence is insufficient to support the trial court's findings: (1) that the money advanced by respondents was their contribution to a joint venture involving the purchase of real estate, and not a loan; (2) that respondents held an option to purchase the real estate involved; and (3) that "there was an accord and satisfaction by and between the plaintiffs and the defendants on or about December 9, 1958."
[1, 2] As recently stated in Gruner v. Barber, 207 Cal.App.2d 54 , at page 57 [ 24 Cal.Rptr. 292 ]: "We find ourselves immediately presented with the oft-repeated and time-honored rule that when a finding of fact is attacked on the ground that there is not any substantial evidence to sustain it, the power of an appellate court begins and ends with the determination as to whether there is any substantial evidence, contradicted or uncontradicted, that will support the finding, and when two or more inferences can…