Deposit Guaranty National Bank v. Ellzey

ROBERTSON, Justice.

The appellant, Deposit Guaranty National Bank, brough suit against the appellee, E. S. Ellzey, in the Circuit Court of Covington County to recover the balance due on a note after applying the proceeds realized from the foreclosure sale of a 1965 *681Ford Pickup truck. The bank had financed the purchase of this truck, and Ellzey had given the bank a note for $2,-474.28 and had secured payment of this note by executing a chattel deed of trust on the 1965 Ford Pickup truck.

In his Answer, the appellee set up by way of a separate defense that the appellant had previously filed an…