Universal CIT Credit Corporation v. Whitworth

SMITH, Justice.

February 7, 1953, at Malad, Idaho, respondent and one Rasmussen, a customer, entered into a written conditional sales contract; thereby Rasmussen agreed to purchase from respondent a 1952 Studebaker automobile for the purchase price of $3,079.34, payable $422.50 as the down payment, leaving a time balance of $2,656.-80 payable “in 6 successive monthly installments, each in the amount of $60 and one final installment of $2,296.80, all payable the same day of each month.” Respondent assigned the contract to appellant and respondent executed a guaranty (appearing on the reverse…