CAPELL ASSOCIATES v. CENTRAL VALLEY SECURITY

Docket No. 11525.

260 Cal.App.2d 773 (1968)

67 Cal. Rptr. 463

CAPELL ASSOCIATES, INC., Plaintiff and Appellant, v. CENTRAL VALLEY SECURITY COMPANY, et al., Defendants and Respondents; SECURITY TITLE INSURANCE COMPANY, Defendant and Appellant.

Court of Appeals of California, Third District.

April 5, 1968.


Attorney(s) appearing for the Case

Lally, Martin, Chidlaw & Viets, Lolly, Martin & Chidlaw and Thomas W. Martin for Plaintiff and Appellant.

McDonough, Holland, Schwartz, Allen & Wahrhaftig and Milton L. Schwartz for Defendant and Appellant.

Darrah & Darrah, Guard G. Darrah, Richard E. Saulque and William A. Sitton for Defendants and Respondents.


PIERCE, P.J.

Plaintiff Capell Associates, Inc. (Capell), an owner of land, sold part of it by contract of sale to S.J. Torre for $221,400 with no down payment. Torre assigned the contract to Golf Club Estates, a corporation. The contract of sale contemplated a subdivision development with subordination of Capell's purchase money deed of trust to deeds of trust for "construction" loans. Defendant Security Title Insurance...

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