Reed v. Universal C.I.T. Credit Corp.

Opinion by

Mr. Justice Roberts,

In October, 1956, appellee Chester L. Reed loaned John W. Skeels $>20,000 in three separate installments; the loan was evidenced by a judgment note signed by Skeels and his wife. No payments on account of principal or interest were ever made by Skeels or his wife up to the time of the trial. On November 29, 1960 Reed entered judgment on the Skeels’ note in the Common Pleas Court of Allegheny County. On the same date Reed caused a writ of execution to be issued, directing the sheriff to seize all of Skeels’ goods at his place of business, a Chrysler, Imperial,…