Manufacturers' Finance Acceptance Corp. v. Woods

The following facts are disclosed by the record:

On November 4, 1928, appellee purchased a new Pontiac automobile from the McCann Motor Company; the purchase price was $878; he paid $297 in cash and agreed to pay the balance in equal monthly installments. To secure the deferred payments, the appellee executed a written instrument, which is referred to in the brief of the appellant as a chattel mortgage and in the brief of the appellee as a conditional sale contract, in which it was stipulated, "whenever you (referring to the mortgage) shall deem the debt insecure * * * the full amount unpaid…