Bennett v. San Ramon Valley Bank

STURTEVANT, J.

This is an action in conversion. The judgment went for the defendants and the plaintiff has appealed.

The plaintiff executed a writing in words and figures as follows, to wit:

“November 1st, 1921.

“San Ramon Valley Bank, Walnut Creek, California.

“Gentlemen: We hand you herewith Deed dated October 21st, 1921, in favor of yourself, to property known as the Netto Ranch, containing one hundred and sixty-six (166) acres, more or less.

“Also Agreement of Sale between Norman H. Bennett and wife to L. Ratio, et al., duly assigned to you, on which there is a balance due of $10,000.00 and interest from March 8th, 1921.

“Also Agreement of Sale between Norman H. Bennett and wife...to Marie Huddleston,, on" which there is a balance' of $650.00" and interest due from "March 4th, 1921, at 7% which contract" is duly assigned to you.

“It is understood" "that you are to sell"the unsold portion of land covered by the above deed at a minimum price of $8,500.00 with the understanding that the proceeds of the sale shall be applied by you towards the payment of my indebtedness to your bank.

[460]

“You will please collect the contracts herein assigned to you and apply the proceeds together with what is necessary from the sale of the one hundred acres, toward the mortgage indebtedness now on the land; and you will also please issue Deeds to the parties purchasing under the accompanying Agreements of Sales.

“It is understood that in case of sale of the one hundred acres above referred to that we shall be permitted to rent the same until not later than June 1st, 1922, for which we will be willing to pay a rent of $200.00.

“In connection with this deal we hereby agree to execute a new Chattel Mortgage covering the personal property which we own, to secure our indebtedness now held by you.

“It is understood that in the sale of the one hundred acres herein referred to that any buildings which we may erect on the place after this date will be considered as my personal property upon my giving possession of the place. It is understood that we reserve the right to remove any new buildings or any additions to the present buildings which we may erect subsequently to the date hereof at the time we surrender possession to the land.