Le Breton v. Stanley Contracting Co.

This is an appeal from a judgment of the superior court of the city and county of San Francisco, rendered and entered in favor of the plaintiff and against the defendants, J ames Stanley and the Stanley Contracting Company.

These defendants, on the twenty-ninth day of October, 1907, were indebted, upon their promissory note in the sum of $2,262.35, to the California Safe Deposit and Trust Company, a banking corporation. The note was dated May 15, 1907. It was due in ninety days from its date, and bore interest at the rate of six per cent per annum, payable monthly, and if not so paid to be compounded. On October 30, 1907, the California Safe Deposit and Trust Company suspended, closed its doors and never resumed business.

The plaintiff, E. J. Le Breton, as the duly appointed, qualified and acting receiver of the defunct bank, brought suit upon the note, and after an order sustaining his demurrer to the answer of the defendants, without leave to amend, obtained a judgment against them on the pleadings for the full amount of the principal and interest due on the note.

The allegations of the complaint with reference to the court’s order adjudicating the bank to be insolvent, and…