Mosier

In this action plaintiffs sought the collection of two promissory notes, each in the principal sum of $100,000 and the establishment of a vendor’s lien upon certain lands, as security therefor. The judgment decreed that plaintiffs should recover from the defendant Suburban Estates, Inc., Ltd., a corporation, the sum of $231,676.88 due on the notes, but that they had no lien on the lands. This defendant alone appeals, upon the judgment-roll, from the money part of the judgment, contending that the action was not prosecuted in the name of the real party in interest, as required by section 367 of the Code of Civil Procedure, because the facts found by the court show that the intervener, Farmers and Merchants National Bank of Los Angeles, and not plaintiffs, was the owner and holder of the notes.

Only the following of such facts need be considered in passing upon this contention. On December 24, 1925, defendant, as part of the purchase price of the lands, executed and delivered to The Sunshine Co., a corporation, the notes, due respectively in two and three years after date. On February 24, 1926, The Sunshine Co.', by a written declaration of trust, assigned the notes to intervener,…