Commercial Credit Corp. v. Nelson Motors, Inc.

Brailsford, Justice.

This is an action by Commercial Credit Corporation against Nelson Motors, Inc. to recover Commercial’s loss on certain contracts or mortgages securing the credit portion of the purchase price, including finance and insurance charges, of automobiles purchased from Nelson by retail customers. These installment contracts, referred to in the record as security instruments, had been assigned to Commercial at a discount by Nelson, pursuant to a written contract dated March 29, 1962, prior to the execution of the contract sued upon.

The circuit court struck portions of defendant’s…