Canyon Credit Union v. Coleman

NORTHCUTT, Justice.

On November 12, 1966, Billy Coleman executed and delivered his promissory note in the principal sum of $849.64 payable to Canyon Credit Union. Said note was payable in monthly installments of $51.84. The first payment was to be made on December 1, 1966, and a like amount every month thereafter until the full amount of the note had been paid. Collateral was a chattel mortgage upon some musical instruments. The musical instruments were later received by Canyon Credit Union from Coleman and sold for the sum of $400.00.

Canyon Credit Union brought this suit against Billy R.…