Commercial Credit Corp. v. Carter

AYRES, Judge.

This is an action for the recovery of an unpaid balance on a promissory note together with recognition of a vendor’s lien and chattel mortgage on a Buick automobile. A defense is there was a want or lack of consideration for the note inasmuch as defendant had never been furnished with a certificate of title to the automobile.

The position of plaintiff is that it is a holder of the note in due course, that is, that it acquired the note for a valid consideration, before maturity or default, without notice or knowledge of any infirmity therein or of any equities existing between the…