Paramount Motors Corp. of the Pacific v. Title Guarantee & Trust Co.

This was a suit to enjoin a sale of real property under a trust deed executed by the plaintiff to secure the payment of a promissory note for the sum of $12,500, made by the grantor named in the trust deed and payable to the order of H. E. Seaton. From a decree in favor of the defendant the plaintiff has appealed.

The ease was before this court on a former appeal, where a full statement of the issues presented by the amended complaint will be found. Paramount Motors Corporation v. Title Guarantee & Trust Co. (C. C. A.) 15 F.(2d) 298 . On the original hearing the court below granted a motion to dismiss for want of equity, but on appeal this court-held that ihe amended complaint averred that a claim and demand in the t sum of $11,965 against the Paramount Heights Subdivision had been assigned by the maker of the note to Therori Walker, under the designation of Theron Walker Engineering & Construction Company, as payment pro tanto on the note in controversy and another note, and that the assignment was so accepted by Walker; that $4,000 was claimed as a bonus or premium for making the loan in question; that the retention of this bonus or premium violated the usury laws of the state;…