Cook Motors Corp. v. Casualty Ass'n of America

In 1923 the plaintiff was engaged in the manufacture and sale of motor trucks at Kankakee, Illinois. The C’ity Cartage Company was organized to operate a line of motor trucks between Detroit and near-by cities. On July 6,1923, an agreement in writing was made between these companies, in which the motors corporation agreed to sell to the cartage company 10 trucks at the price of $3,600 each, payable in monthly installments of $200, for which promissory notes bearing 7 per cent, interest should be given. The cartage company agreed “to execute a chattel mortgage upon each of said trucks as…