Terrell v. Loomis

Minor W. Millwee, Justice.

On June 3, 1949, appellee, Leslie D. Loomis, purchased an automobile from Aubrey Blevins Sales Co. of Delight, Arkansas. The parties executed a conditional sales contract under which title to the automobile was to be retained in the seller until a $622.68 balance on the purchase price was paid in twelve monthly installments of $51.89 each. The contract and note for the monthly payments were immediately assigned to and purchased by appellee, General Contract Purchase Corporation, hereinafter called credit corporation.

Appellant, Alton Terrell, operates an automobile…