McCune v. Harris

GOULD, J., pro tem.

This action arises out of a promissory note in the principal sum of $2,300, executed by the eight defendants herein in favor of plaintiff. Collateral was pledged as security for the payment of the obligation, and the note contained appropriate recitals regarding the sale of such collateral in case of default, together with the application of the proceeds, except for the following significant alteration in the printed form of the note: The clauses “returning the overplus to the undersigned. And the undérsigned agrees to pay the holder hereof any deficiency upon demand” were…