Clow Gasteam Heating Co. v. Hixson

LOONEY, Justice.

On October 10,1930, Clow Gasteam Heating Company sold and delivered to Don and Wesley Peacock, Jr. (a copartnership, under the name of Peacock Military Academy), twenty-seven Clow Gasteam radiators, the consideration being $1,864, paid and to be paid as follows: $75 cash, and the balance in twenty-four equal consecutive monthly installments, evidenced by a promissory note.

The sale contract between the parties, in legal effect a chattel mortgage, contains the following: “If I fail to make any of said monthly payments as above specified, at the option of you or your assigns, all…