Chapman v. Bank of California

Citations

• 97 Cal. 155
• 31 P. 896
• 1893 Cal. LEXIS 502

Syllabus

<p>Mortgage by Deeds Absolute — Declaration of Trust — Conveyances in Discharge of Indebtedness — Termination oe Trust—-Implied Trust — Statute of Limitations.—Where deeds absolute in form were given to a bank as security for indebtedness, and the bankexecuted a declaration of trust, declaring that the lands conveyed were held as security, and the debtor finally, being overwhelmed with debt, and unable to meet his liabilities to the bank, proposed to convey the lands to the bank in fee-simple absolute, in discharge and satisfaction of the indebtedness, and a final settlement was thereupon made, and new conveyances absolute in form executed to and accepted by the bank, which surrendered the evidences of indebtedness to the debtor, no oppression or unfairness appearing on the part of the bank, and the settlement being fair and for a full consideration, the express trust was thereby terminated, and any action to enforce an implied trust was barred in four years after the settlement and delivery of the deeds and notes.</p> <p>Id.—Laches — Pleading.—A court of equity will refuse to entertain a suit brought after an unreasonable delay, regardless of the question whether there has been a plea of the statute of limitations.</p> <p>Id. — G-round for Refusing Relief. — The refusal to grant relief to a plaintiff guilty of laches is not based upon the presumption of payment, nor upon analogy to the statute of limitations, but upon considerations of public policy, and the difficulty of doing entire justice between the parties in consequence of the unreasonable delay.</p> <p>Id. — Factors of Laches — Acquiescence — Lapse of Time — Change in Value. — The principal factors in determining the question of laches are acquiescence and lapse of time, but other circumstances are also material, such as that a change in the value or character of the property has taken place.</p> <p>Id.—Discretion of Chancellor.—The matter of laches is left to the sound discretion of the chancellor in each