Old Dominion Bank v. Greenfield

HOOD, Chief Judge.

Appellant was the holder of a promissory note, originally in the sum of $1,-812.24, secured by a conditional sales contract of a 1961 Renault automobile. A few months after execution of the note and contract, when the note had been reduced to $1,711.56, appellee by written agreement assumed payment of the note and contract. About three years later, when the note had been reduced to $379.15, appellee defaulted in payments, and appellant repossessed the automobile. The entire transaction had occurred in Virginia, and in accordance with Virginia law,1 after written notice to…