Valley Title Co. v. Parish Egg Basket
California Court of Appeal
31 Cal. App. 3d 776 (1973)
- Written by Daniel Clark, JD
Facts
Anselmo Azzaro, Gaetana Azzaro, Frank Costantino, and Velma Costantino (trustors) owned a piece of real property. The trustors executed a deed of trust on the property in favor of Merlin Bohnett and Janice Bohnett. In 1967, Parish Egg Basket, Inc. (Parish) (defendant) obtained a monetary judgment against the trustors and recorded an abstract of that judgment. In 1968, the trustors executed a promissory note to R. Cali and Brother (Cali) (defendant) secured by a deed of trust on the property. In 1969, Parish and the trustors came to an agreement whereby Parish would release the trustors from the abstract of judgment in exchange for a deed of trust given as security for the payment of the abstract. Parish foreclosed on its deed of trust, and subsequently the Bohnetts forced a sale under their deed of trust. The Bohnetts’ sale generated a surplus over what was owed to the Bohnetts. Valley Title Company (plaintiff) filed an interpleader action seeking a determination as to who, between Cali and Parish, was to receive the surplus funds. The trial court awarded the surplus to Cali, and Parish appealed.
Rule of Law
Issue
Holding and Reasoning (Rouse, J.)
What to do next…
Here's why 815,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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.