San Ramon Valley Bank v. Walden Co.

This action was instituted for the foreclosure of two mortgages covering a tract of land described as lot 21 in the Walden Tkact, in' the county of Contra Costa. The first of these mortgages was one purporting to have been executed by The Walden Company, a corporation, to the plaintiff herein on May 1, 1918, as security for a promissory note for the sum of $1,500; the second mortgage was one executed on November 25, 1918, by The Walden Company to one C. R. Hook, as security for its promissory note for the sum of $250, which last-named note and mortgage were assigned to the plaintiff herein on December 20, 1918. The defendants R. S. N. Burdick and Mary Burdick, his wife, who are the ap pell ants herein, appeared in said action and filed their answer therein, setting forth certain defenses which they are now urging upon this appeal. A consideration of these defenses requires a brief recital of the facts showing the relation of the defendants Burdick to their codefendant, The Walden Company, and to the premises affected by these mortgages and by the foreclosure thereof. On and prior to the fifth day of April, 1918, The Walden Company was the owner of lot 21 in the Walden Tract and on…