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Banking
Loan Agreement
Personal Property/Conversion

Elizabeth T. Winfield v. Jack Andrew Winfield

Published: Jun. 24, 2006 | Result Date: Nov. 20, 2005 | Filing Date: Jan. 1, 1900 |

Case number: CIV434215 Bench Decision –  $67,445

Court

San Mateo Superior


Attorneys

Plaintiff

James H. Seymour
(James H. Seymour Counselor at Law)


Defendant

Edward Charles Pomeroy

Paul Kwang-Hun Lee

Adam Clay Kent

David R. Packard

Kevin Dean Frederick


Facts

Plaintiff Elizabeth Winfield loaned her son, Defendant Jack Winfield, and his former wife, Defendant Jennifer Braun, money while they were married. Winfield and Braun agreed to repay the money with interest. The loans began in 1992 when Elizabeth obtained a loan in order to loan Winfield and Braun $16,500 to purchase a home. Winfield and Braun were to pay the loan back over a period of 15 years at eight percent annual interest. In 1999, they requested an additional $40,000 from Elizabeth for the purpose of paying off debts in connection with the financing of their home. Although the principal on the 1992 loan at that time was approximately $15,000, Winfield and Braun asked Elizabeth to agree to a $10,000 balance and to combine it with the current $40,000 loan. The terms of the new $50,000 loan were to remain the same as the 1992 loan. To make the loan to Winfield and Braun, Elizabeth obtained another loan. Thereafter, the marriage of Winfield and Braun was dissolved. In 2003, their home was sold. Proceeds from the sale in the amount of $50,000 was placed in a trust account. The trustee of the account was Vicki Yeley, Braun's attorney during the marital dissolution proceedings. Although Winfield and Braun admitted owing Elizabeth money during dissolution proceedings, Braun refused to repay the plaintiff. Elizabeth sued Winfield and Braun for the $50,000 owed to her under the loan. Elizabeth also sued Yeley to prevent her from withdrawing $15,000 from the account to pay for her own fees incurred during the dissolution proceedings.

Contentions

CONTENTIONS:
The plaintiff contended that she was the equitable owner of the $50,000 and was entitled to that sum plus interest from the proceeds of the sale of the defendants' home because the trust was for her benefit. The defendants were constructive trustees. The plaintiff also contended that Defendant Yeley took half of her $15,000 in fees from the account before an attachment lien for $50,000 was placed on the property and the other half after the lien. The plaintiff contended that Defendant Yeley was prohibited from transferring the $50,000 proceeds to Defendant Braun as a result of an injunction pursuant to C.C.P. Section 491.340.

Damages

The plaintiff sought damages in the amount of $72,127.

Result

$67,445. $49,416 plus interest against Jack Winfield and Jennifer Braun and $18,029 against Yeley.


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