Ford Motor Credit Co. v. Long

DIES, Chief Justice.

On April 12, 1978, B. L. Long, appellee, purchased a new 1978 Ford dump truck from Kinsel Ford, Inc., of Beaumont, financing the purchase by executing an installment contract (hereafter “contract”). The contract reflected an unpaid cash price of $30,998.06, other charges of $4,582.03, a finance charge of $9,449.37 for a total payment of $45,029.46. The contract was assigned to Ford Motor Credit Company, under the terms of which Long, appellee, was to make forty-two monthly payments of $1,072.13 each. Appellee failed to timely pay his installments, and on February 26, 1979,…