Nakatsukasa v. Wade

[88]

BRAY, J.

Plaintiff appeals from a judgment denying Mm relief on Ms complaint and in favor of defendants upon their cross-complaint adjudging them to be the owner of a certain sum of money.

Question Peesented

The interpretation of the customary title company “Agent’s Deposit Receipt,” as to whether it requires approval by joint

owners

of the property to be sold where it is signed by one of them as “seller.”

Recoed

Plaintiff sued for $1,500 for moneys had and received. Defendants cross-complained seeking to quiet their title to the $1,500 hereafter mentioned. The court denied plaintiff relief and found defendants to be the owners of said money.

Evidence

With the exception that plaintiff testified that he asked defendant Heinley for his money back later the same day he deposited it, and Heinley testified it was within two or three days later, there is no conflict in the evidence. Defendant Wade and his wife Joy M. Wade were owners in joint tenancy of certain real property in Santa Cruz County. The property was listed with Heinley, a licensed real estate broker. September 28,1951, after showing the property to plaintiff, Heinley, as agent, filled out in quadruplicate a printed form entitled “Agent’s Deposit Receipt,” acknowledging receipt from plaintiff of $1,500 on account of the purchase price of the described property “listed in the name of La Verna A. Wade,” total purchase price $12,200; “The sale of this property is contingent upon the Buyer securing a $7,000 loan on the property . . .

Said property is sold subject to approval of owner.

The agent is granted the right for 10 days to obtain such approval.” (Emphasis added.) Plaintiff was present in Heinley’s office at the time. Neither plaintiff nor Heinley could remember if Wade was there. Mrs. Wade was not. (No testimony of either Wade was presented at the trial.) Plaintiff read over the receipt and signed the portion reading “I agree to purchase the above described property on the terms and conditions herein stated.” Heinley also signed. Wade signed it but when does not appear except that plaintiff makes no contention that Wade signed after plaintiff attempted to withdraw. Immediately upon signing plaintiff gave Heinley a check for $1,500, the amount mentioned in the receipt as the deposit. Heinley deposited it the same day with