Matreyek
California Federal Bank v. Matreyek
Opinion
Opinion
Klein, J.
Plaintiff and appellant California Federal Bank (CalFed) appeals a judgment of dismissal following the sustaining of a demurrer to its original complaint interposed by defendants and respondents Bill Albin Matreyek, as trustee for the Bill Albin Matreyek Trust and Mary Elizabeth Burney Matreyek Trust U/D/T June 9, 1986 (hereafter, the Matreyeks).
The issues presented are whether CalFed has pled or is capable of pleading causes of action for unjust enrichment and equitable subrogation.
For the reasons discussed below, the judgment is affirmed.
Factual and Procedural Background
On December 3, 1990, CalFed filed this action against the Matreyeks for (1) restitution based on unjust enrichment; (2) equitable subrogation; (3) money had and received; and (4) money paid. The complaint alleged, in relevant part:
On June 8, 1988, pursuant to a note secured by a deed of trust, CalFed loaned the Matreyeks $7,060,000, at an annual interest rate of 10.25 percent. The note required monthly payments of $62,047 through July 1, 1995, at which time the entire principal balance then owing would be due. The note further provided the Matreyeks would owe CalFed a prepayment penalty in the…