Lazzareschi Investment Co. v. San Francisco Federal Savings & Loan Ass'n

Opinion

DEVINE, P. J.

Plaintiff appeals from a summary judgment. Plaintiff, by its complaint, seeks recovery of an allegedly illegal penalty and seeks punitive damages against defendants for assertedly exacting it. From declarations presented by the parties at the motion for summary judgment, we have the following narration of facts.

On February 21, 1967, Frank A. Marshall borrowed $300,000 from defendant San Francisco Federal Savings and Loan Association, for which he executed a promissory note secured by a deed of trust on property used for commercial purposes. The second defendant is the…