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CARGILL, INC. v. SOUZA

No. F061767.

201 Cal.App.4th 962 (2011)

134 Cal. Rptr. 3d 39

CARGILL, INC., et al., Plaintiffs and Respondents, v. DANIEL SOUZA, as Trustee, etc., et al., Defendants and Appellants.

Court of Appeals of California, Fifth District.

December 9, 2011.

Attorney(s) appearing for the Case

Felger & Associates and Warren P. Felger for Defendants and Appellants.

Germino, Amaral & Jordan, Scott Jordan and Edward M. Amaral for Plaintiffs and Respondents.

OPINION

LEVY, Acting P. J.—

Appellants, Daniel and Joyce Souza, made loans to Manuel and Esmeralda Teixeira evidenced by promissory notes and secured by an interest in dairy cattle and farm equipment. Respondent, Cargill, Inc. (Cargill), was an unsecured creditor of the Teixeiras. Upon the Teixeiras' default on the promissory notes, the Souzas and the Teixeiras entered into a "TRANSFER IN LIEU OF FORECLOSURE AGREEMENT" (Transfer Agreement...

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