Vickers v. Chrysler Credit Corp.

Carley, Judge.

The pertinent facts in the instant appeal are as follows: For the purpose of financing its automobile inventory, Ray Dodge, Inc. (“Ray Dodge”) entered into a revolving loan agreement, commonly referred to as a “floor planning” arrangement, with plaintiff-appellee Chrysler Credit Corporation (“Chrysler”). As evidence of this *435agreement, Ray Dodge executed a “main” promissory note in the principal amount of $400,000 payable to Chrysler on demand. When Ray Dodge desired to purchase an automobile from the manufacturer, Chrysler would make Ray Dodge an advance in the amount of the…