Security-First National Bank v. Chapman

From a judgment in favor of plaintiff predicated upon the granting of its motions (a) to strike defendant’s answer, and (b) for a summary judgment under section 437 (c) of the Code of Civil Procedure, defendant appeals. These are the essential facts:

The complaint alleged that on or about August 10, 1935, S. J. and G. A. Chapman Corporation executed and delivered to plaintiff a promissory note in the principal sum of $18,000 bearing interest at 7 per cent per annum and that said note was secured by a trust deed executed by said corporation to the Los Angeles Trust and Safe Deposit Company as…