Peffer v. Kenner

On February 4, 1966, C & D Auto Sales, Inc., a corporation, hereinafter referred to as C & D, was engaged in the used car business and on that date sold a 1957 Cadillac to one Ervin Davidson. The payment for this car was financed by Davidson by means of a promissory note and a security agreement (chattel mortgage) in the amount of $728.28, payable in installments commencing March 17, 1966.

The promissory note was made payable to C & D, which company on February 4,1966, assigned the same with recourse to the First National Bank of Akron. The security agreement was also assigned to the bank on…