McAllister v. Drapeau

THE COURT.

Defendant appeals from a judgment cancelling a promissory note and deed of trust executed by plaintiffs, and from a money judgment in favor of plaintiffs for the sums paid by them on the note.

The facts are not in dispute, and are as follows:

In 1929 plaintiffs borrowed from the California Security Loan Corporation, appellant’s predecessor in interest, the sum of $11,050, which debt was secured by a first deed of trust on plaintiffs’ home property. By the year 1934 this indebtedness had been reduced to $8,271.26. In that year plaintiffs defaulted on their payments on the note, and, as…