Chemical Bank v. Padilla

Oliver 0. Sutton, J.

This is an action based on a note, dated June 13, 1969, executed by the defendant to the order of the plaintiff in the amount of $4,212. Defendant executed the note in the said amount in order to receive the net sum of $3,451.84 to purchase an automobile. Thus, the note includes a discount of $758.16 plus $2 -filing fee. The note was to be paid in 36 monthly installments of $117 each, commencing on July 21,1969.

The automobile was1 totally wrecked on April 20, 1970; and thereafter, having paid 15 monthly installments, defendant •sought to liquidate the balance of the…