California Court of Appeal December 26, 1935, Civ. No. 10761 (Silverman v. Wright)

GOULD, J., pro tem.

Earnest J. Krause, Inc., a California corporation, executed its promissory note for $15,000 secured by a deed of trust upon real property. Upon default in payment of the note the holder caused the trustee to sell the real property on February 28, 1929. After applying the proceeds of the sale to the indebtedness represented by the note, there remained a deficiency of $4,742.24.