Beaudry v. Vache
California Supreme Court
Appeal from the District Court of the Seventeenth Judicial District, Los Angeles County. The plaintiff and defendant and two others gave Francisca Wolfskill a promissory note for three thousand dollars. The plaintiff, though he signed as principal, was only a surety, and the defendant having failed to pay the note, the plaintiff paid the same, and brought this action to recover the sum thus paid. The other facts are stated in the opinion.
1Opinion of the Court
By the Court:
The demand of the plaintiff upon which this suit is founded was secured by “sixty-eight shares of the Los Angeles Wine Growers’ Association ” as collateral, which shares had been received by the plaintiff at the time he incurred the liability for the defendant. The plaintiff agreed to return the shares whenever he was relieved of the liability he assumed as surety for the defendant, and to give the defendant a proxy to vote upon these shares, if in the meantime an election for officers of the association should be held, which would indicate that the certificates had not only been…
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