Associates Inv. Co. v. Thomas

McDONALD, Chief Justice.

Versie Thomas, appellee here, purchased an automobile from Ward Motor Company. The cash purchase price of the car was $1527, to which there was added a tax of $36. The trade-in allowance on an old car was $52; and the cash payment was $761, leaving a balance of $750. For this balance appellee executed a conditional sales agreement, in the nature of a chattel mortgage, and a note in the principal sum of $952,50, payable in 15 monthly instalments of $63.50-each. On the day following the sale pf the car the note and conditional sales contract were transferred to…