Personal Finance Co. of New Haven v. Vigneault

On March 1, 1941, defendant and his wife signed a note jointly and severally promising to pay plaintiff $130 in 17 monthly installments of $9.39 each. This note was a renewal, the original loan being for $200 and the reason for the renewal was the lowering of the monthly payments in view of the change in the financial position of the named defendant.

At the time of this renewal, the defendant filled out a financial statement at the request of the plaintiff which stated that "for the purpose of showing my ability to repay the same and to induce you to grant said loan, I hereby declare that a…