Rose v. Galbraith Motor Co.

On November 29, 1955, appellant was the owner of a 1955 GMC logging truck, subject to a chattel mortgage in favor of respondent, Galbraith Motor Company (hereinafter referred to as Galbraith), which secured the balance of the purchase price thereof. On that date, the chattel mortgage was assigned by Galbraith to defendant and cross-complainant, Yellow Manufacturing Acceptance Corporation (hereinafter called YMAC). The assignment reads, in part:

“For value received, the undersigned does hereby sell, assign and transfer to Yellow Manufacturing Acceptance Corporation, his, its or their right,…