MacMillan v. Parlato

Defendant appeals from the judgment herein, which declares inter alia that he has no right, title or interest in a certain $90,000 promissory note or the deed of trust securing its payment. The facts will be stated in the light most favorable to respondents.

Appellant had been a licensed real estate broker for over 15 years prior to the transaction involved herein. On September 1, 1960 he obtained an option in his name, on behalf of himself and respondent MacMillan, to purchase an 18-acre parcel of land for $201,500. Each put up one-half of the $2,000 paid for the option. Appellant…