Murdock

Murdock v. Clarke

Good Law
1891 Cal. LEXIS 953·90 Cal. 427·27 P. 275
Supreme Court of CaliforniaAugust 7, 1891No. 13472California3,217 words

Opinion

Lead Opinion

Harrison, J.

ebruary 4, 1875, Adam Murdock borrowed from the defendant Clarke $8,500, for which he gave him his note, payable in one year after date, with interest at one and a fourth per cent per month, and as security for its payment made a deed to him of a tract of 320 acres of land, known as the “Beaver Creek Ranch,” and assigned to him a swamp-land certificate of purchase of certain other lands, known as the “ Big Valley Ranch.” These transfers were by instruments absolute in form, but Murdock continued to remain in possession of the property. Soon after this date, Clarke sold and assigned to his co-defendant Cox one half of said note and security. Thereafter, viz., March 22,1875, Murdock borrowed from Clarke and Cox the further sum of five thousand dollars, and gave them his promissory note therefor. At this time Murdock’s property, including the lands aforesaid, and his cattle and other personal property, were under attachment, and he was anxious to obtain the loan, in order to free his property therefrom. The defendants agreed to loan him the money, and make such advancements as might be needed to free the property, provided such arrangement could be made that they would be secure, and…

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