Bank of America National Trust & Savings Ass'n v. Stotsky

This action was brought to recover a deficiency remaining due on a note after the sale of certain real property situated in California pursuant to a power of sale contained in a deed of trust. Judgment was entered for respondent upon a directed verdict in its favor, and thereupon appellant appealed.

The facts necessary to present the issues raised are these: On or about December 22, 1927, appellant executed and delivered to The First National Bank of San Pedro, California, a certain promissory note in the sum of $11,500, payable to this bank, with interest until paid at seven per cent per…