Ripley Improvement Co. v. Hellman Commercial Trust & Savings Bank

The action which gives rise to this appeal is one wherein plaintiff, formerly Blythe Construction Company, sought to enjoin the sale of certain lands held under trust deeds as security for the payment of two promissory notes, one for the sum of $10,000 and one for $15,000, executed by plaintiff to the defendant Peoples Trust & Savings Bank of Riverside. Subsequent to the filing of the suit the $10,000 note was disposed of and the case went to trial upon the $15,000 note and the property described in the trust deed securing it. This note was dated August 14, 1918, and made payable three years after date. Judgment was rendered in favor of plaintiff, enjoining the sale of the property described in the trust deed securing said note and also canceling the said note on the ground that the same had been fully satisfied and paid. Defendants appeal.

The following statement as to the material matters bearing on the issues involved is fully and fairly supported by the evidence as it appears in the record in the case.

Prior to August 14, 1918, plaintiff had become indebted to the defendant Peoples Trust & Savings Bank, a banking institution located in the city of Riverside, California, in…