Bank of America National Trust & Savings Ass'n v. Lane Mortgage Co.

The defendant has appealed from a money judgment which was rendered against it in a suit brought pursuant to the terms of a written contract, for refusal to purchase from the plaintiff and pay a promissory note secured by trust deed.

The complaint is couched in two counts. The first cause is for specific performance of the contract. The second cause alleges that the contract amounts to a guaranty on the part of the defendant to pay on demand the indebtedness represented by the note. The defendant answered the complaint denying the material allegations thereof, except that the making of the…