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

ROTH, J., pro tem.

This is an appeal from a summary judgment entered against defendants in response to a motion based on affidavits, pursuant to section 437c of the Code of Civil Procedure. The pleadings and the affidavits, the latter set forth in a bill of exceptions, present the following facts:

Defendants, on June 3, 1931, executed their joint and several promissory note to plaintiff in the sum of $98,500, in lieu of a note in a similar amount theretofore executed by defendant James N. Casady alone, which latter note had been secured by a pledge of 200 shares of stock of Transamerica…