Bank of America National Trust & Savings Ass'n v. Gillett

The plaintiff sued upon a rejected claim presented to the executrices of the Estate of James N. Gillett, deceased. The claim was based upon a promissory note, secured by a deed of trust upon real property, payment upon which was long in default. The defendants rejected the claim upon the theory that, since the payee was required to exhaust the security before suing upon the original obligation, the claim presented to the estate was for money not then due. The plaintiff urges that the primary obligation became due upon its due date; that it was therefore necessary to present the claim and sue…