Williams v. Hahn

Citations

• 113 Cal. 475
• 45 P. 815
• 1896 Cal. LEXIS 814

Syllabus

<p>Attachment—Sale of Pledged Property—Security Rendered Valueless—Construction of Code.—Where property pledged as security for a debt has been sold pursuant to the authority given hy the pledgor to the pledgee, and the net proceeds applied upon the debt, the security has become valueless as a security by the direction and authority of the pledgor, and not by the act of the pledgee, within the meaning of section 537 of the Code of Civil Procedure, and an attachment will lie in an action to recover the remainder of the debt.</p> <p>Id.—Private Sale of Pledgee—Agreement—Waiver of Notice — Maxim.—Where the pledgor has authorized the pledgee to sell the pledged property at private sale only without notice to the pledgor, any notice of such sale is thereby expressly waived, and under the maxim conventio vincit legem, the agreement of the parties overcomes the provision of the law requiring a sale at public auction upon usual notice.</p>