Johnson v. S. L. Savidge, Inc.

The crux of this case is whether the appellant, Anna Johnson, received adequate consideration for the execution of her promissory note and the chattel mortgage given to secure the same, which mortgage S. L. Savidge, Inc., seeks to foreclose. (We shall hereinafter refer to S. L. Savidge, Inc., as though it were the sole respondent.)

Respondent made a loan to Arthur Taft July 16, 1951, and took from him a promissory note in the amount of $425.04. As security for the note, Taft executed and' delivered to respondent a chattel mortgage on a 1946 Pontiac sedan that he claimed to own, his evidence of…