Byers

Byers v. Locke

Good Law
1892 Cal. LEXIS 585·93 Cal. 493·29 P. 119
Supreme Court of CaliforniaFebruary 24, 1892No. 14616California1,135 words

Opinion

Lead Opinion

Harrison, J.

It is alleged in the complaint that the plaintiff, being the owner of certain real estate which had been sold under a decree of foreclosure, made an agreement with the defendant, just prior to the expiration of the time for redemption from said sale, that the defendant should advance the money necessary therefor and redeem the property from said sale, and for the pur *494 pose of enabling him to do so, he would convey the premises to the defendant, and that the defendant should hold the same until such time as they might be sold, and in the mean time advance such moneys as might be necessary for the payment of taxes and assessments thereon, and that upon the sale of said premises he would, after deducting from the proceeds therefrom the moneys so advanced, with interest thereon at the rate of twelve per cent per annum, pay the balance of said proceeds to the plaintiff; that thereupon he did, on the tenth day of July, 1888, convey the premises to the defendant, who immediately redeemed the same from the foreclosure sale, and held them until April 12, 1890, on which day, with the consent of the plaintiff, he sold them for $12,160, paying in the mean time certain amounts for taxes,…

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