Beneficial Finance Co. of Black Hawk County v. Reed

MASON, Justice.

Plaintiff appeals from judgment entered in favor of defendant in law action for deficiency judgment under the Uniforn Commercial Code. The action was instituted by plaintiff, Beneficial Finance Company (Beneficial), to recover of defendant, Henderson Reed, the unpaid balance of defendant’s promissory note after allowing credit for payments made thereon and for proceeds received from an earlier repossession and sale of defendant’s automobile by plaintiff under a secured loan agreement entered into between the parties. The matter was tried to the court without a jury.

October 8,…