Bouche

This action is upon a non-negotiable promissory note executed June 1, 1881, by defendant to one H. E'. Williamson. Defendant was not indebted to Williamson, but the note was intended as collateral security for the obligation of D. and A. Bolte, who on that day borrowed from Williamson the sum of eleven hundred dollars. The Bolte note was also secured by a mortgage on land in Calaveras county. The understanding between Louttit and Williamson was that when the Bolte note became due Williamson would proceed at once to collect the same by foreclosure of the mortgage, and that Louttit would be liable upon his note, given as collateral, only for the deficiency, if any.

The Bolte note became due August 1,1882. But no *231 action was instituted and no steps taken to collect the same until 1886, when an action was commenced to foreclose. The amount of judgment for principal and interest and costs, and including costs of sale, amounted to two thousand five hundred and eighteen dollars and fifty cents. The amount realized from the sale, which was had July 23,1887, was one thousand eight hundred dollars. This suit was commenced July 31, 1886.

Upon these facts the trial court held that…