Stephenson v. Lawn

Defendants appeal from a judgment in favor of plaintiffs in an action brought against defendants as endorsers of a promissory note secured by a second deed of trust.

The evidence, which is without conflict, shows that the defendants sold certain real property to Donald C. and Wanda I. Lindell, and on the same date, and as part of the same transaction, the buyers gave defendants a promissory note secured by a second deed of trust. Thereafter, defendants transferred the note to plaintiffs for value by a special endorsement as follows: “Pay to the Order of Feed R. Stephenson and Edna M.…