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eBook details

• Title: Thorsby v. Babcock
• Author : Supreme Court Of California
• Release Date : January 20, 1950
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 54 KB

Description

Defendant Irene A. Krumsiek and her daughter were the owners of a ranch near Rosamond in Kern County. On May 20, 1948, Mrs. Krumsiek listed her property for sale with plaintiff Ruel G. Williams, a real estate broker. The defendants and cross-complainants O. A. Sanders and Lola B. Sanders owned a motel at Long Beach and during the spring and summer of 1948 plaintiff Williams attempted to negotiate a trade of the Sanders motel for the Krumsiek ranch. On or about July 1st Mr. and Mrs. Sanders prepared and submitted a written offer to trade properties and this offer was rejected by Mrs. Krumsiek. On July 9th, 1948, Williams prepared a written instrument for and on behalf of Mrs. Krumsiek, which instrument was a deposit receipt form, by the terms of which she offered to exchange the ranch for the motel. The document provided that Mrs. Krumsiek was to assume loans against the motel in the approximate sum of $33,000; the Sanders were to give their note, payable to Mrs. Krumsiek in the sum of $20,000 and this note was to be secured by a deed of trust on the ranch. Sanders and Krumsiek were each to pay $1,500 real estate commission. Mrs. Krumsiek gave Williams her check for $500 and Williams took the instrument to the Sanders for their signature and approval. Mr. and Mrs. Sanders approved the deal as submitted and signed the document. However, Williams made certain notations on the back of the document, which notations are as follows:

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