In re the Estate of Phillips

Foote, C. Margaret Phillips died on the twelfth day of December, 1882, leaving a will, which was probated, and an administrator with the will annexed appointed.

The estate was composed of $17,963 in money, of which the sum of $6,000 was bequeathed to one William R. Johnson, who on the first day of December, 1883, borrowed of one Joyce $425, executing and delivering therefor his promissory note for such amount, and securing its payment by a written instrument reading as follows: —

“ Know all men by these presents, that I, William R. Johnson, of the city of Petaluma, county of Sonoma, state of California, the party of the first part, for and in consideration of the sum of $425, gold coin of'the United States, in hand paid by Martin Joyce, of the same place, party of the second part, the receipt whereof is hereby acknowledged, have bargained, sold, and conveyed, and by these presents do bargain, sell,, convey, assign, and transfer, unto said party of the second part all and singular my rights, titles, and interests of any and all kinds of, in, and to the estate of Margaret Phillips, deceased, and each and every part and parcel thereof, and the property of any and all kinds belonging to said estate. ¡

“ And I do hereby nominate and appoint said party of \\ the second part my attorney in fact, and irrevocably (except as herein provided, on payment of the promissory note hereinafter mentioned) for me, and in my name, place, and stead, to receive, receipt for, take, and have all my share, part, and interest in said estate and the property thereof. The foregoing transfer, conveyance, and assignment is made for and as security to secure payment of a certain promissory note for $425, bearing even date herewith, of which the following is a copy: — [287]“' $425. Petaluma, December 1, 1883.

“ ' On demand, for value received, I promise to pay to Martin Joyce, or order, the sum of $425, with interest from date till paid, at the rate of one per cent per month, payable in United States gold coin.

'“Wm. E. Johnson.’

“ And upon full payment thereof, principal and interest, this assignment to become void; the said party of the second part, under the foregoing assignment and power, to collect and receive the principal and interest due upon said note.

“ In witness whereof the party of the first part has hereunto set his hand and seal, this the first day of December, A. D. 1883.