Evans

The evidence in this case consists of the notes, trust deeds, certain notices, deeds of trust, the deposition of one Frederick M. Kincaid, and a stipulation of facts which may be stated, so far as here material, as follows:

One John W. Gibson owned certain real property situate in Riverside County. However, the record title to said real property was in the name of one Frederick M. Kincaid. Kincaid conveyed said real property to one James L. 0 ’Donahue on December 5, 1927. Thereafter, on the same day and as a part of the same transaction, the said 0 ’Donahue made, executed, and delivered his promissory note for $45,000, due on or before three years, to the said Frederick M. Kincaid and at the same time 0 ’Donahue made, executed and delivered to Kincaid a trust deed purporting to secure a promissory note in the sum of $45,000, payable to Kincaid and his wife, Blanche D. Kincaid, according to the description of the note in the said trust deed. However, no such note was ever made. The trust deed was duly recorded December 6, 1927, in the office of the county recorder of Riverside County. Thereafter, on the same, day and as a part of the same transaction, the said 0 ’Donahue made,…