Colonial Finance Corp. v. Schacht Motor Truck Co. of N. E., Inc.

This is an action against the indorser of twelve promissory notes. A jury trial resulted in a verdict for the defendant and the case is here on plaintiff’s exceptions taken to rulings made in the course of the trial, including a ruling refusing to direct a verdict for the plaintiff.

The plaintiff, which is engaged 'in the business of discounting commercial paper, discounted the notes for the defendant which received them from their respective makers in partial payment for motor trucks sold by defendant to said makers on conditional sale agreements. An item covering the cost of insurance was…