First National Bank of Butler v. Sturdivant

Appellant filed suit against appellees to recover judgment on a promissory note that was secured by a chattel mortgage on two motor vehicles and some logging equipment. The jury returned a verdict for both defendants (appellees) who had jointly signed the note and mortgage. The appeal is from the judgment entered for the defendants pursuant to the jury verdict.

W. A. Sturdivant and James C. Martin, Jr. entered into a business transaction whereby Martin sold to Sturdivant two vehicles and logging equipment for the sum of $15,500.00. Sturdivant paid in cash the sum of $3,500.00, reducing the…