Van Vleck Realty v. Gaunt
California Court of Appeal
250 Cal. App. 2d 81 (1967)
Frank Gaunt (defendant) purchased real property from Sam Givenco and Chita Givenco (plaintiffs). Gaunt partially financed the transaction by borrowing portions of the purchase price from the Givencos. In exchange, the Givencos accepted two promissory notes from Gaunt, one secured by a deed of trust on the property and one that was unsecured. Gaunt defaulted on both notes. The Givencos settled the secured note by accepting title to the property back from Gaunt and returning the deed of trust and the note it secured. The Givencos filed a separate action to enforce the amount owed on the unsecured note. The trial court found that the note, although unsecured, was “part of the obligation” secured by the deed of trust. Accordingly, the trial court held that § 580b of the California Code of Civil Procedure, which precluded vendors of real property who extended purchase-money debt to buyers from seeking deficiency judgments upon exhaustion of security interests, barred the Givencos from recovering on the unsecured note. The Givencos appealed.
Rule of Law
Holding and Reasoning (Draper, 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 684,000 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 684,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 42,800 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.