Commercial Credit Equipment Corp. v. Elliott

COLLINGS, Justice.

Commercial Credit Equipment Corporation brought suit against Clyde C. Elliott on three purchase contracts on cotton harvesting equipment purchased by the defendant. Plaintiff alleged that a November 30, 1964 purchase agreement was in default because of the failure of defendant to pay a January 2, 1965 installment in the amount of $1,716.-55; that plaintiff deemed itself insecure on two other purchase agreements with installments due in October and November of 1965 and asked that said notes be accelerated and declared due, and prayed for foreclosure of the chattel mortgages…