First Victoria National Bank v. Briones

OPINION

NYE, Chief Justice.

This is an action for breach of contract. Charles Waters, Jr., and his wife, Pearl, executed a “MECHANIC’S LIEN NOTE” in the amount of $20,000.00 to appellee, Gerónimo Briones. This note is secured by a mechanic’s lien by virtue of a mechanic’s lien contract. The contract required Briones to construct improvements on the Waters’ property. Pursuant to a “TRI-PARTY FINANCING AGREEMENT,” Briones requested appellant, First Victoria National Bank, to purchase the indebtedness owing under the contract together with the lien and security interest securing the payment…