Watson v. Peirce

AGEE, J.

Defendant appeals from a judgment entered in favor of plaintiff in an action on a promissory note. The note is typewritten and is in the following words and figures:

“$1,500.00 January 16, 1960

“For Value Received, I promise to pay to Joe Kirkwood, or order, at Fort Bragg, California, the sum of Fifteen Hundred and no/100 Dollars ($1,500.00), payable as follows: The sum of $.50 for each thousand board feet of lumber cut at the sawmill situated on Iverson Road, South of Point Arena, California, commonly known as ‘Shoreline Stud Mill,’ until the entire balance shall have been paid.

/s/ Leland Peirce

Leland Peirce”

Immediately below is added, in the

handwriting of the defendant,

the following: “to be paid in full by Jan. 16, 1961 LP.” Below this is typed, except for the signatures, the following : “For value received, I, Joe Kirkwood, do hereby assign all my right, title, and interest in the above note to

[209]

Eugenia E. Watson, P. 0. Box 152, Laytonville, Calteornia.

Dated at Laytonville, California, January 19,1960.

/s/ Joe Kirkwood

Joe Kirkwood

Witness : /s/ Tom Kirkwood”

Defendant’s answer admits the execution and delivery of the note on the date it bears, the assignment of the note to plaintiff three days later, and the payment of only $47.44 on account. Defendant alleges an oral agreement between himself and Kirkwood that the note would be payable

only

if the sawmill was operated at a profit during the year 1960 and that, no profit having been made during said period, nothing ever became due under the note.

The trial court made findings that the note contained the entire agreement between defendant and the payee and that there was no oral agreement to the contrary. It found that the entire balance of $1,452.57 became due on January 16,1961, and rendered judgment accordingly.