Bandmann

London & San Francisco Bank v. Bandmann

Good Law
120 Cal. 220·1898 Cal. LEXIS 738·52 P. 583
Supreme Court of CaliforniaMarch 3, 1898S. F. No. 663California1,696 words

Opinion

Lead Opinion

Garoutte, J.

This action is brought to foreclose a mortgage executed July 21, 1888. This mortgage was given to secure “the present indebtedness of Julius Bandmann to said bank, and such advances as said bank may hereafter make to said Julius Bandmann, with interest thereon at the rate of eight per cent per annum.” The case is now before us upon an appeal from the judgment .without a hill of exceptions. By the findings of fact it appears that at the time the mortgage was given Bandmann was in debt to the bank in the sum of about sixty-eight thousand dollars which indebtedness was evidenced by two promissory notes. Subsequently these two notes were taken up and new notes given in lieu thereof. Advances were also made by the bank to Bandmann during this time, which were likewise evidenced by notes. Various payments upon some of these notes were made by Bandmann. The moneys so applied were the proceeds of sales of personal property also held by the bank as security for this indebtedness. Upon March 31, 1894, a settlement of the parties was had, and the indebtedness of Bandmann to the bank was thereupon ascertained to he forty-two thousand two hundred and fifty dollars, and a new note given for…

Sign in to read the full opinion

Create a free account to read the complete opinion text, citation history, and good-law status for this case.