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217 Cal. 399

18 P.2d 931

Connon v. Goebel

California Supreme Court

Decided February 10, 1933

California Supreme Court · decided 1933-02-10

Relies on Liebelt v. Carney

Good law ✅— No negative treatment on recordhow we know

Decided 1933-02-10

How this case has been cited

Cited by 25 later decisions — most recently May 1991 · most notably Peiser v. Mettler (1958), 27 Cal. 2d 760 - Kaluzok v. Brisson (1946)

25 state decisions

901933194019501960197019801990decided

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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PRESTON, J.

¶1 Action by innocent purchaser for value before maturity of two negotiable promissory notes each secured by a separate mortgage upon a single tract of land in Los Angeles County. The usual decree of foreclosure and sale was entered. Defendants have appealed. The defense is usury at the inception of both transactions. The court found as a fact that usury was present. But this fact is not disclosed upon the face of the notes. The purchase for value before maturity without notice renders the plea of no avail as against plaintiffs. (Liebelt v. Carney, 213 Cal. 250 [2 Pac. (2d) 144, 78 A. L. R. 405].) Moreover, as to the larger of the two notes defendants expressly certified in writing to plaintiffs that no usury was exacted. Still persisting, appellants urge that the smaller note was dated in 1922, at which time under the law the presence of a mortgage rendered the note it secured non-negotiable. If this were true, it avails appellants nothing as the note was extended and republished after the law was amended and prior to the purchase by respondents.

¶2 The judgment is affirmed.

¶3 Shenk, J., Seawell, J., Langdon, J., Curtis, J., and Waste, C. J., concurred.

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