General Motors Acceptance Corp. v. Matson

' HUGHES, Justice.

Appellant General Motors Acceptance Corporation sued Norman W. Matson to recover on a promissory note given by Matson to Paramount Oldsmobile Inc. of Brooklyn, New York, in part payment of a 1957 Oldsmobile four-door sedan purchased by Matson and to foreclose a chattel mortgage on the car given to secure payment of such note. Other incidental relief was sought. Appellant alleged the transfer and assignment of such note and mortgage by Paramount to it before maturity and for a valuable consideration.

Appellee Matson answered this suit by admitting purchase of the car and…