McAdoo

Security Trust & Savings Bank v. McAdoo

Good Law
109 Cal. App. 505·1930 Cal. App. LEXIS 427·293 P. 149
Court of Appeal of CaliforniaNovember 13, 1930Docket No. 4215.California1,329 words

Opinion

Lead Opinion

The plaintiff had judgment in an action to foreclose a mortgage on certain property described in the complaint, from which judgment the Averill-Weymouth Company, a corporation, appeals.

The record shows that the Averill Company was engaged in the building of houses, and in so doing had contracted with one W. H. McAdoo for the erection thereof. The money to erect the buildings and to erect the building upon the lot involved in this action was to be obtained from the plaintiff.

In pursuance of this agreement the appellant, the owner of the lot, executed a grant, bargain and sale deed in favor of the defendant W. H. McAdoo and handed the same to the respondent. In handing this deed to the respondent the appellant accompanied the deed with the following letter of instruction, to wit:

In pursuance of the instruction just set forth the respondent took from W. H. McAdoo and wife a mortgage in the sum of $4,000 and also a note in favor of the appellant for the sum of $1500 secured by a deed of trust on the property mentioned in the letter of instructions. Thereafter, the respondent advanced to W. H. McAdoo the sum $1,000, as part payment for materials be used in the erection of a…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.