Massey-Ferguson, Inc. v. Easterwood

NORTHCUTT, Justice.

In January of 1954, Lesly-Vaughn Motor Co., sold appellee, Carl Easterwood, five new diesel tractors for a total sales price of $25,308.00. Appellee traded in some used tractors for which he received an allowance of $9,841.80. Interest was figured into the balance owed, and on January 26, 1954, appellee gave a chattel mortgage and note for $17,055.14, representing the balance owed on the tractor trade. The note was made payable to Lesly-Vaughn Motor Co., one of appellant’s dealers at Hereford, Texas, and, on the same day, shows to have been assigned to appellant. - ’

Over a…