From our private database of 26,900+ case briefs...
Fischer v. First International Bank
California Court of Appeal
1 Cal. Rptr. 3d 162 (2003)
Karl and Pamela Fischer (plaintiffs) signed an agreement with First International Bank (defendant) to obtain two business loans. The agreement clearly and specifically identified Loan 1's collateral as a first lien on the Fischers' commercial lots, and Loan 2's collateral as both second lien on the lots and a deed of trust to the Fischers' house. The Fischers signed the trust deed at closing. In bold capital letters, the deed described it as security for the Fischers' Loan 2 note and "indebtedness." Anyone seeking to understand this word would have to follow a cross-reference to a definition, in fine print and 177 words of dense legalese, explaining that indebtedness covered any debt the Fischers owed the bank, even those debts that were otherwise legally unenforceable. The Fischers sold their house in 1999. After paying off Loan 2, the Fischers were left with sale proceeds of $125,000, which the bank wanted to apply toward paying off Loan 1. The Fischers sued the bank for breach of contract and several other offenses. In light of the trust deed's broad definition of indebtedness, the trial court entered summary judgment for the bank. The Fischers appealed to the state appellate court.
Rule of Law
Holding and Reasoning (Aaron, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 541,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 541,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 26,900 briefs, keyed to 983 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.