Low
Low v. Sutherlin, Barry & Co.
Opinion
Lead Opinion
Rudkin, J.
April 22,1925, Grace E. Low and Charles H. Low, her husband, entered into a written contract with Sutherlin, Barry & Co., Inc., wherein the Lows agreed to issue first mortgage bonds in the sum of $295,000, secured by mortgage or deed of trust on certain real property situate in the city of Los Angeles, and Sutherlin, Barry & Co. agreed to purchase the bonds so issued at 90 per cent, of their par or faee value, plus accrued interest. Eurther details of this contract are not deemed material, nor is the fact that subsequent agreements relating to the bond issue were signed by the wife alone, or the fact that she was the sole party plaintiff in this action.
By a supplemental contract dated June 29, 1925, the amount of the proposed bond issue was increased to $360,000, and certain real property in the city of Venice was added to the mortgage security. On the latter date Mrs. Low signed an agreement wherein she agweed to pay the sum of $5,900 as commissions to certain persons or firms therein named, and authorized Sutherlin, Barry & Co. to deduct the amount from the proceeds of the bond issue. • August 1, 1925, a trust deed was executed by Mrs. Low to secure the bond issue of $360,000,…