First National Bank v. Kinslow

[457]

BARNARD, P. J.

The respondent brought this action to collect the unpaid portions of three promissory notes, the face amounts of which were $5,500, $900 and $475, respectively. The first of these, dated December 22, 1931, was signed by the appellant and her husband and by her son and his wife. It appears that this note was given and accepted by the respondent as a renewal of three prior notes which had been signed by the appellant’s husband and by the same son and his wife, the three prior notes having then been returned to the son. The second note was for $900, was dated May 23, 1933', was signed by the appellant alone, and was given to and accepted by the respondent as a renewal and in lieu of a note dated February 17, 1933, which was signed by the appellant’s husband alone. The appellant’s husband died on April 14, 1933, and when this second note was given, the husband’s note of February 17, 1933, was marked paid and delivered to the appellant. The $475 note was dated October 11, 1933, and was signed by the appellant alone. It was given in renewal of a note for the same amount which was signed by the appellant and given to the respondent on May 17, 1933, the latter note having been, in turn, given as a renewal or in lieu of a note dated January 7, 1933, which was signed by the appellant’s husband alone. The last-mentioned note was marked paid and given to the appellant at the time of the first renewal referred to.

From a judgment in favor of the respondent this appeal is taken, the main contention of appellant being that no consideration appears since the notes sued on were all given as renewals of notes previously signed by others and since the appellant received no money or property at the time of signing the same, and that findings to the effect that a consideration existed are without support in the evidence.

With respect to the first note for $5,500, the preexisting debt and the extension of time which is disclosed by the terms of that note and the notes of which it was a renewal, all of which appear in the record, show a sufficient consideration

(Bridge

v.

Ruggles,

202 Cal. 326 [260 Pac. 553] ;