Black v. Perkins

OPINION

LIVERMORE, Presiding Judge.

Plaintiffs Leonard and Jeanette Black executed a $42,500 promissory note, secured by a deed of trust on property owned by them, in favor of defendant Kenneth Perkins. They subsequently brought a quiet title action against Perkins claiming the note to be without consideration. Perkins defended by claiming that the note had adequate consideration because it secured a debt owed by Leonard Black’s business partner, Joe Guzman; Guzman and Black denied this. This lawsuit was dismissed for want of prosecution on November 17, 1987, and Perkins immediately bought the…