Manufacturers' Finance Acceptance Corp. v. Woods

Appellee purchased an automobile from the McCann Motor Company, executing a mortgage thereon to the vendor to secure some deferred payments on the car. This mortgage was, concurrently with the purchase and its execution, transferred, for value, to the appellant. One of the stipulations in said mortgage contract was that, "whenever you (referring to the mortgagee) shall deem the debt insecure, * * * the full amount unpaid hereunder, including any note given, shall become due and payable forthwith, and you or your assigns may, without any previous notice or demand of performance, and without…