New Holland MacHine Company v. Lewis

CHADICK, Chief Justice.

Mr. Arthur C. Lewis, Jr., was doing custom farm work in the year 1966, which included operation of a combine. That year he traded in his used machine on a newly manufactured Model 980 New Holland Combine at Terrell Tractor Company. A written purchase agreement dated March 1, 1966, was executed, and in the instrument Mr. Lewis bound himself to pay $11,210.98 in five installments at dates therein specified and secured payment thereof by a chattel mortgage lien upon the new combine. As Terrell Tractor Company’s assignee of the purchase agreement, New Holland Machine…