Holland v. Lansdowne-Moody Co.

McDONALD, Chief Justice.

This appeal is from a summary judgment granted under Rule 166-A, T.R.C.P. Parties will be referred to as in the trial court. Defendant, who is in the tractor business, sold one Hawkins a tractor in January 1952. The sale was evidenced by a combination note-mortgage called a “Purchase Agreement,” which recited a cash payment; a deferred balance to be paid in 18 monthly installments of $206 each; and which secured the balance by mortgage on the equipment. The mortgage provided for repossession with or without process of law by the seller or assignee in the event of…