Commercial Securities Co. v. Kavanaugh

On May 12, 1941, defendant purchased from LaGrone Motors of Jonesboro, Louisiana, a Dodge automobile for the price of $1,475.84, including carrying charges. He paid $860 of this amount in cash and gave his note for the balance of $615.84, payable in 24 monthly installments of $25.66 each, secured by vendor's lien and chattel mortgage on the car. The note was acquired by the plaintiff very soon after its execution. Ten of the installments were paid as they fell due. Defendant was then inducted into the armed forces of the United States. Prior to induction he offered to pay the balance due on…