Commercial Credit Equipment Corp. v. Knowlton

TAYLOR, Justice.

Under date of December 1, 1959, third-party defendant (respondent) E. J. Soelberg, dba Soelberg Equipment Co., sold to defendant (appellant) certain farm machinery and equipment upon a conditional sales contract which provided for the payment by the buyer to the seller of a deferred balance of $5,391 in two equal annual installments accruing December 1, 1960, and December 1, 1961. December 9, 1959, the contract was assigned by the seller to the plaintiff (respondent) Commercial Credit Equipment Corp.

The payment due December 1, 1960, was not made. The contract provides that in…