First National Bank v. G. R. Wood, Inc.

Wood, A. C., J. C. C.

This is an action on a promissory note. On May 10, 1960, the defendant, G. E. Wood, Inc., then the operator of a scheduled bus line and of charter buses, made and executed to the plaintiff bank a note for $4000. The note was given for a loan to finance the purchase of a bus by G. E. Wood, Inc. As collateral security for the loan, G. E. Wood, Inc. gave to plaintiff a chattel mortgage on the bus, bearing even date with the note, which was recorded in *579the office of the County Clerk of Gloucester County. The note was indorsed in blank before delivery by the individual…