Graves

Graves v. Arizona Central Bank

Good Law
1928 Cal. LEXIS 598·205 Cal. 715·272 P. 1063
Supreme Court of CaliforniaDecember 14, 1928Docket No. Sac. 4141.California1,245 words

Opinion

Lead Opinion

Preston, J.

This is an action to remove a cloud from the title to real property claimed by the plaintiff and to that end to enjoin the defendant bank, as judgment creditor, and the sheriff, respectively, from proceeding with an execution sale of said property upon a judgment obtained by defendant bank against one O. E. Squier. We find no merit in the appeal and the judgment must be affirmed.

The court was warranted in finding the facts to be substantially as follows: In 1919 the Superior California Farm Lands Company and said Squier entered into a contract of sale and purchase of some eighty acres of land in Glenn County for a consideration of approximately $12,000, to be paid in annual installments. Thereafter, and up to February 16, 1925, said Squier had paid about $4,000 on the purchase price. On said last-mentioned date said Squier borrowed from plaintiff some $1,500 and as security for the loan delivered a written assignment executed by himself and his wife to said plaintiff, which assignment on its face was unconditional and no defeasance was executed by plaintiff. It is admitted, however, by him that at the time the assignment was so taken and received it was intended to be as…

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