Advance-Rumely Thresher Co. v. Brady

Respondent purchased a tractor from appellant in May, 1925, giving in payment three notes secured by a chattel mortgage. The first note was dne in November, 1925. Default having been made in its payment and by the terms of the notes the entire amount having thereby become due, appellant sought, by notice and sale, to foreclose the chattel mortgage and thereafter brought this action to recover a deficiency judgment.

Respondent in his answer set out three affirmative defenses and also counterclaimed on three causes of action. For a first defense he alleged that the chattel mortgage had not been…