Basile
Basile v. California Packing Corp.
Opinion
Lead Opinion
Dietrich, J.
Suing upon a written guaranty, the defendant in error (hereinafter called plaintiff) recovered judgment for $7,000, besides interest, from which the defendants bring error.
In the early part of .1920 the defendant Cavala, who as a realtor was endeavoring to sell to three persons named Castello a prune ranch in California, applied to the plaintiff for a loan to the Castellos to enable them to make the purchase. Upon conditions named, plaintiff agreed to advance $13,500 for the purpose and the Castellos bought the ranch. Pursuant to the understanding under which the loan was made, plaintiff and the Castellos entered into an agreement by which the latter were to sell, and the former was to buy, the prunes grown upon the ranch during the years from 1920 to 1924, inclusive, the price for each year’s crop to be mutually agreed upon prior to September 1st of each year, and in case of a failure so to agree the price which the buyer was paying generally in the locality on September 1st should prevail. Payment was to be made upon delivery of the prunes, which was not to be later than Novembor 1st. The instrument further recited that the buyer had advanced to the sellers $13,500, and the…