Central Bank & Trust Co. v. Metcalfe

DUNN, Judge.

The appellant, Central Bank and Trust Company, sued Herbert Metcalfe, Jr. and the appellee, Evelyn Metcalfe, individually and as administratrix of the estate of Herbert Metcalfe, Sr., for a deficiency judgment.

The three Metcalfes had contracted with Tapp Motor Sales for the purchase of a 1979 Ford Bronco. The principal purchaser was Metcalfe, Jr., his father, Herbert Sr., and his stepmother, Evelyn, were cosigners. After execution, the contract was assigned to the appellant bank. The instrument granted the bank a security interest in the Bronco and, pursuant to its terms, when…