Futch v. Gregory

There is tendered in this case the right of plaintiff to a deficiency judgment against the defendant. The court denied such right by sustaining exceptions of no cause and no right of action, and dismissed the suit. Plaintiff appealed.

The facts of the case as disclosed by the petition and attached documents, are these:

Plaintiff, doing business as Independent Finance Company, for value, took from the defendant his promissory note for $371.00 and to secure the same, on April 24, 1948, defendant executed to plaintiff a mortgage on a used automobile. Four days thereafter, to-wit April 28th,…