Lewis v. Marsh

When the defendant debtor, Marsh, purchased a mare, she did so with funds which, at least in part, she borrowed from the plaintiff creditor, Lewis. In so doing, Marsh signed a promissory note on June 6, 1981, the same date she bought the mare from a third party, which provided that, in the event of a default, Lewis would be entitled to “full possession, custody, and ownership of the animal described above, to be seized, removed, sold, traded, or otherwise used to satisfy this debt.” The total amount of the debt was three hundred dollars. Marsh defaulted on her payments, but Lewis took no…