McKelvey

McKelvey v. Wagy

Good Law
157 Cal. 406·1910 Cal. LEXIS 273·108 P. 268
Supreme Court of CaliforniaMarch 22, 1910L.A. No. 2439.California899 words

Opinion

Lead Opinion

Melvin, J.

Appeal from a judgment of foreclosure. Defendants James I. Wagy and Julia I. Wagy, on July 2, 1906, gave their note for seven thousand dollars, payable on or before one year after date, with interest at the rate of seven per cent per annum. This note was secured by a mortgage on certain real property in Los Angeles County. Mrs. Jane Johnson was sued as one claiming some interest in the property by purchase from the Wagys.

In the answer the defendants James I. and Julia I. Wagy did not deny the due execution of the note and mortgage, and defendant Johnson merely made denial on information and belief. The defendants pleaded payment of all interest to September 1, 1908, except one hundred and thirty dollars, and averred that plaintiff extended time on said payment for ninety days. They also alleged that about July 1, 1908, plain tiff agreed, in consideration of the payment of interest at the rate of eight per cent instead of seven per cent per annum, to extend the time of settlement of the note and interest until January 1, 1909.

Plaintiff introduced in evidence the note and mortgage and certain receipts for the taxes which he had paid, and another voucher showing the payment by…

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