Neill v. Klobas

STONE, J. pro tem. *

Plaintiffs and cross-defendants, hereinafter referred to as plaintiffs, the owners of real prop erty in Richmond, entered into a written contract with defendants and cross-complainants, hereinafter referred to as defendants, for the construction of a “multiplex” of 11 units with carports. The contract price was $54,880, payable in five installments of $8,476 each, and a note and trust deed for $12,500 payable on or before completion. Plaintiffs arranged to finance construction through the Mechanics Bank of Richmond which placed $33,000 in plaintiffs’ loan account,…