Caffarelli Bros. v. Pearce

On October 21, 1913, Friesenhahn and Al-brect purchased jointly.from one Kraft a certain tract of land executing as a part consideration therefor a vendor’s lien note for $4,-000 maturing January 1, 1919.

On August 2, 1917, the grantees in the above deed executed a note for $2,000, secured by a deed of trust on the land involved. This note was subsequently extended to March 27, 1923.

On March 27, 1922, Friesenhahn conveyed, his undivided interest in the land to Albrect, who, as a part of the consideration therefor, assumed and agreed to pay the $4,000 first lien note and the $2,000 second lien…