Irving Bank & Trust Co. v. Second Land Corp.

GUITTARD, Justice.

This appeal is from a temporary injunction restraining a trustee’s sale of land. The principal ground alleged to support the injunction is that various notes secured by deeds of trust on the property in question are usurious and that when statutory penalties are applied to the indebtedness in question, no right of foreclosure exists. Without deciding any of several usury questions, we hold that the trial court had discretion to preserve the status quo by temporary injunction until trial on the merits.

The controversy arises out of a series of loans by appellant Irving Bank &…