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BUDGET FINANCE PLAN v. GAMSON

Docket No. L.A. 20936.

34 Cal.2d 95 (1949)

207 P.2d 825

BUDGET FINANCE PLAN (a Corporation), Respondent, v. LAWRENCE GAMSON et al., Appellants.

Supreme Court of California. In Bank.

June 28, 1949.

Attorney(s) appearing for the Case

William Katz for Appellants.

Mindlin & Levy and L.J. Styskal for Respondent.

SHENK, J.

In April, 1946, the plaintiff corporation, a licensed personal property broker, loaned $20,000 to the defendants, Lawrence Gamson and his wife Gertrude, at charges of 1 1/2 per cent per month on the unpaid principal balances, taking as security a chattel mortgage on two automobiles and certain household furnishings, and in addition, a deed of trust on a parcel of real property. At the same time the defendants delivered a promissory note to the plaintiff...

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