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WAGNER v. BENSON

Docket No. 18214.

101 Cal.App.3d 27 (1980)

161 Cal. Rptr. 516

ROY J. WAGNER et al., Plaintiffs, Cross-defendants and Appellants, v. WILLIAM BENSON, JR., Defendant, and Respondent; LLOYDS BANK CALIFORNIA, Defendant, Cross-complainant and Appellant.

Court of Appeals of California, Fourth District, Division One.

January 14, 1980.

Attorney(s) appearing for the Case

COUNSEL

Leo Shaw for Plaintiffs, Cross-defendants and Appellants.

Jerome L. Goldberg and Lesley A. Andrus for Defendant, Cross-complainant and Appellant and for Defendant and Respondent.

OPINION

BROWN (Gerald), P.J.

Orthodontist Roy Wagner and his wife, Carol, speculated in a cattle raising program offered by Mountain Shadows Ranch (MSR) in 1973. Their agreement authorized MSR to act as the Wagners' agent in buying, maintaining and marketing their cattle.

To finance the operation the Wagners borrowed from Lloyds Bank (Bank), consistent with an understanding prenegotiated by MSR. The loan agreement not only...

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