Ponti v. Farrell

VALLÉE, J.

Plaintiffs Joseph V. Ponti and F. L. Freeman brought this action against defendants David Farrell and Los Angeles Trust Deed and Mortgage Exchange, called Exchange. The complaint was in two counts. Count I was for damages for violation of the Corporate Securities Act. The court found against plaintiffs on that issue. Count II alleged ‘1 [w] ithin four ¿years last past and prior to the commencement of the above entitled action the defendants became indebted to the plaintiffs, and each of them, upon a written instrument in the sum of $5,000.00 for money had and received by the…