Legal Opinion
Schoolcraft v. Ross
California Court of Appeal
Decided May 18, 1978No. Civ. 3300PublishedCited by 42 opinions
1Opinion of the Court
Opinion
HOPPER, J. —
We here consider the issue of application of proceeds from fire insurance under the terms of a deed of trust as between the trustor and the beneficiaiy. We hold that the right of a beneficiary to apply insurance proceeds to the balance of a note secured by a deed of trust must be performed in good faith and with fair dealing and that to the extent the security is not impaired the beneficiary must permit those proceeds to be used for the cost of rebuilding.
In April 1974 the plaintiffs purchased a home from defendant Ross and executed a promissory note secured by a deed of…
2Cases cited19 opinions
- Gruenberg v. Aetna InsuranceCalifornia Supreme Court · 1973
- La Sala v. American Savings & Loan Ass'nCalifornia Supreme Court · 1971
- Murphy v. Allstate InsuranceCalifornia Supreme Court · 1976
- Brown v. Superior CourtCalifornia Supreme Court · 1949
- International Industries, Inc. v. OlenCalifornia Supreme Court · 1978
14 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
- Careau & Co. v. Security Pacific Business Credit, Inc.California Court of Appeal · 1990
- CHATEAU CHAMBERAY HOA v. Associated Internat. Ins. Co.California Court of Appeal · 2001
- Photovest Corporation, an Indiana Corporation, and Cross-Appellant v. Fotomat Corporation, a Delaware Corporation, and Cross-AppelleeCourt of Appeals for the Seventh Circuit · 1979
- Wagner v. BensonCalifornia Court of Appeal · 1980
- Bruckman v. Parliament Escrow Corp.California Court of Appeal · 1987
37 more not listed; retrieve them via the Exa API.