Shaheen

Defendant Vincent Shaheen appeals from a judgment in the sum of $5,500 entered against him and his codefendants Albert J. Shaheen and Balph E. Smith.

There is relatively little dispute concerning the factual background which gave rise to the alleged liability of defendant Vincent Shaheen: 1 On June 7, 1960, three individuals, Bob Arrowood—who was named as a defendant but not served —Balph Smith and Albert borrowed $5,500 from plaintiffs on an unsecured promissory note payable in 18 monthly installments beginning September 1, 1960. In case of default plaintiffs had the option to accelerate the note. The money was used to purchase real property in San Bernardino County where the three men planned to develop a bowling alley. They ran into financial difficulties and on or about August 12, 1960, the property was conveyed to Vincent with the understanding that he would attempt to develop the project. He wa,s not successful and about the time when the present action was filed on February 27, 1961, conveyed the property to a corporation operated and controlled by his brother Tom. Although at the time of trial in February 1963, a 32-lane bowling alley was operating on the property,…