Public Loan Corp. v. Terrell

The only issue on this appeal is whether appellant is a holder in due course of the promissory note sued on.

Appellee, John Terrell, purchased a window fan from Easy Appliance Company for the purpose of ventilating and cooling his cafe. He made a down payment and executed a note and conditional sales contract for the balance of $181.62, which amount included the cost of installation. The note was dated May 22, 1952 and was payable in monthly installments of $10.09 each, the first installment being- due June 22, 1952.

On the same day the note was executed it was assigned by Easy Appliance…