General Finance and Guaranty Company v. Smith

NORTHCUTT, Justice.

This is an action to recover upon an oral contract. O. E. Smith was in the furniture business, and would sell his furniture upon some credit basis, taking a note and chattel mortgage upon the furniture sold to secure the balance due upon the purchase price. O. E. Smith, hereinafter referred to as appellee, made and entered into an oral contract with General Finance and Guaranty Company, hereinafter referred to as appellant, whereby appellee would sell to appellant the chattel mortgage and chattel mortgage notes without recourse on appellee. The appellant was to pay appellee…