Diggs
Nineteenth Realty Co. v. Diggs
Opinion
Lead Opinion
Notjrse, J.
The plaintiff sued in unlawful detainer as purchaser at a sale under a trust deed to recover possession of certain portions of real property held by the defendants. The cause was tried by the court and judgment was entered for the plaintiff for possession and damages. Pour of the defendants have appealed upon the judgment-roll and a bill of exceptions.
On December 1, 1924, Lake Drive Corporation, as owner of the real property in suit, executed a trust deed upon the property to secure a bond issue in the sum of $350,000. The defendants George G. Jamieson and Maury I. Diggs were then respectively the president and secretary of the corporation. The purpose of the bond issue was to finance the construction upon the real property of an apartment building containing twenty “community” apartments. Certain contracts were executed by the corporation for the sale or lease of these apartments, all of which were terminated on May 28, 1927. On that date new contracts were executed, one to Diggs covering apartment number 19 and one to Jamieson covering apartment number 20. The corporation then assigned to the trustee as further security under the trust deed all its interest as vendor under…