Davison v. Finneran

PRESTON, J. In this cause a judgment was rendered in favor of defendants and cross-complainants Finneran, from which plaintiffs and cross-defendants Davison appealed.

[52]The appeal involves no legal question of importance. The sole issue in reality is that of sufficiency of the evidence to support the findings and judgment. This is true because, under the view of the somewhat conflicting evidence adopted by the trial court, the three points made by appellant, which might otherwise be meritorious, are untenable. The evidence points directly to the correctness of the trial court’s conclusions and upon the record before us, we have no hesitancy at all about affirming the judgment.

On May 8, 1929, plaintiffs and defendants entered into an agreement for the exchange of real property, pursuant to which plaintiffs conveyed to defendants a ranch in Kern County, valued at $15,250, subject to first trust deed securing an indebtedness of $2,000. Defendants assumed the $2,000. encumbrance; they gave plaintiffs their note for $8,750, secured by second trust deed on the ranch; they paid plaintiffs $500 cash and they conveyed to plaintiffs real property in West Hollywood, subject to a $2,000 mortgage which plaintiffs assumed.

In August, 1930, plaintiffs brought this action to recover from defendants on their $8,750 note. Defendants answered and also filed a cross-complaint alleging rescission of the entire contract on the ground of material fraudulent representation by plaintiffs inducing the exchange. The trial court found in favor of the allegations of the cross-complaint and gave judgment accordingly, decreeing a rescission of the transaction and providing monetary substitutes to be paid in case complete rescission could not at this time be had. As above stated, plaintiffs appealed. From the findings and the evidence, the following appears:

During the negotiations for making the exchange and prior to execution of the agreement, the encumbrances then existing on the ranch were discussed. Defendants asked plaintiff George A. Davison the date of maturity of the $2,000 indebtedness and he positively represented and asserted to defendants that it would not mature and become due and payable for more than two years thereafter. Defendants informed him that unless this was so, they could not enter into any agreement. Plaintiff repeated the assertion several times during the negotiations. The fact was that the trust deed [53]