Sperry Corp., Sperry New Holland Division v. Schaeffer

KONENKAMP, Circuit Judge.

Sperry Corporation, Sperry New Holland Division was awarded a deficiency judgment against Stanley Schaeffer (Stanley) as a result of Stanley’s co-signing a retail installment contract. Stanley appeals; we affirm.

Stanley and Allen Schaeffer were partners in a farm operation. In September of 1980, they jointly purchased a Sperry New Holland TR 70 combine from Ritter-Walz, a Parkston implement dealer. Sperry Corporation iinlancfed the purchase. When they dissolved their partnership in early 1981, Stanley agreed that Allen would keep the combine. Stanley then attempted…