Finance Security Co. v. Williams

On February 3, 1947, one J. W. Williams executed a note in favor of H. F. Magee, secured by a chattel mortgage on a 1942 Plymouth automobile. This transaction took place in the Parish of Washington. Magee endorsed the note in blank and discounted it with the Finance Security Company, Inc., the plaintiff in this suit. Later on Williams traded the automobile to Smit and Dillard, a commercial partnership composed of John Smit and __________ Dillard, dealers in used cars in the City of New Orleans. Smit and Dillard, in trading the car with Williams, failed to procure the affidavit required by…