San Diego Municipal Credit Union v. Smith

Opinion

LEWIS, J.

San Diego Municipal Credit Union (Credit Union) appeals a judgment in favor of Martin A. Smith based on equitable estoppel. We affirm.

I

Smith bought a Porsche automobile in September 1979. He borrowed $20,000 from Credit Union for that purpose and, on September 7, 1979, signed a promissory note and a security agreement in favor of Credit Union.

In November 1979, Smith proposed to sell the Porsche to Daniel Steele. Smith took Steele to Credit Union’s office on November 21, 1979, for the purpose of having the note paid off and transferring title of the Porsche to Steele. An…