Charley v. Rico Motor Company

OPINION

SPIESS, Chief Judge.

This appeal presents questions of first impression relating to the Uniform Commercial Code.

On May 19, 1964, appellants purchased a pick-up truck from Rico Motor Company (appellee) ■ at a purchase price of $3*089.35. The full amount of the purchase price was not paid at the time of sale. An advance, or down-payment of $1,061.35 was made by the appellants, which consisted of a trade-in of another vehicle and appellants’ promissory note in the principal amount of $467.00 payable to the order of appellee. The unpaid balance of the purchase price was evidenced and…