Bank of America v. Security Pacific National Bank

Opinion

BROWN (G. A.), J.

This is an appeal by plaintiff, Bank of America National Trust and Savings Association, referred to as America, from a judgment of dismissal after the trial court sustained the demurrer of the respondent, Security Pacific National Bank, a national banking association, referred to as Security, to America’s first amended complaint without leave to amend.

The ultimate issue to be determined is the proper statute of limitations applicable to plaintiff’s cause of action. The parties contend this determination involves the three-year statute of limitations contained in Code…