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SEABOARD FINANCE CO. v. FEDERAL LEASING CO.

Docket No. 29388.

247 Cal.App.2d 444 (1966)

55 Cal. Rptr. 458

SEABOARD FINANCE COMPANY, Plaintiff and Appellant, v. FEDERAL LEASING COMPANY, Defendant and Respondent.

Court of Appeals of California, Second District, Division Four.

December 21, 1966.

Attorney(s) appearing for the Case

Arthur S. Ecker, Minter & Feder, and Richard H. Share for Plaintiff and Appellant.

Cantillon & Cantillon and James P. Cantillon for Defendant and Respondent.

FOX, J.*

In September 1964, plaintiff-appellant Seaboard Finance Company brought this action against Federal Leasing Company, defendant-respondent, to recover an alleged indebtedness of some $120,000. Plaintiff filed a declaration for attachment in which it stated that defendant's indebtedness had been originally secured, but then asserted that "said security has without any act of plaintiff become valueless and no other security exists...

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