Stenzel

This is an appeal from a judgment in favor of plaintiff for damages claimed to have been suffered as the result of defendant fraudulently inducing plaintiff to convey real property in exchange for a mortgage.

Plaintiff was the owner of real property in Los Angeles County which he wished to sell in order to supply an urgent need for money. In a conversation with the defendant, plaintiff told him of his necessity, and defendant asked what price he would take for the property. Plaintiff named a price, net to himself. A few days later defendant told plaintiff that he had a cash buyer for the property, but that in order to turn it plaintiff would have to increase a mortgage on the property to about half the price. Defendant negotiated and procured a loan for plaintiff.

Thereafter defendant told plaintiff that the trade he had in mind was the transfer to plaintiff of a note for $8,000 secured by mortgage on land in San Bernardino County; that the maker of the note was then in San Francisco raising the money to pay it off, and it would be practically a cash transaction.

Plaintiff, at defendant’s instance, gave escrow instructions to a bank to deliver the deed of his property upon…