Pappas
Pappas v. Union Bond & Trust Co.
Opinion
Opinion
Warne, J.
This is an appeal from a summary judgment entered in favor of the plaintiff in an action for collection of a promissory note.
It appears from the complaint that the defendant made, executed and delivered for valuable consideration the promissory note in question to Legh Timber Company, Inc., and that thereafter Legh Timber Company, Inc., negotiated it to the plaintiff.
In its answer defendant denied all of the allegations of the complaint except it was admitted that the defendant refused to pay the note sued upon. By cross-complaint defendant brought in Legh Timber Company, Inc., as cross-defendant, and alleged that the note in question was in payment of the execution and delivery of an assignment and a grant deed from Legh Timber Company, Inc., to Klamath Logging Company; that Legh Timber Company, Inc., did not own the timber interests and real property purportedly conveyed; that there was no interest in said real property except to the extent of one million board feet of timber rather than forty million board feet of timber as represented by Legh Timber Company, Inc., to be its interest therein; that the interest of the Klamath Logging Company had been assigned to defendant;…