Cobbey v. Peterson

To review a judgment of $1,066.60 entered against him, the defendant brings error. The principal question presented by the record is the plaintiff’s claimed right to be subrogated to the defendant in the matter of a certain promissory note executed by one Schmid to the United Service Corporation and by it sold to the defendant.

It appears that on October 21, 1926, Schmid made the note involved and to secure it gave a chattel mortgage. The note was for $1,105, and payable in monthly installments of $50 with interest at 8 per cent per annum payable monthly. When it was proposed to the defendant…