Morrison
College National Bank v. Morrison
Opinion
Lead Opinion
An appeal from a judgment entered against defendants Morrison and Dam. Defendant Wetherbee was not served with summons, and Morrison defaulted. Defendant Dam answered the complaint and is the sole appellant.
On February 29, 1922, Morrison, by an instrument in writing designated a lease, agreed to sell and Wetherbee, who is therein called the lessee, agreed to buy a motor-truck for the sum of $2,600, payable $875 in cash and the balance in monthly installments of $172.50, with interest. Title to the truck was reserved by the seller, and the buyer agreed to pay the sum of $100 as attorney’s fees in the event of suit to recover any part of the amount payable under the contract. Thereafter, on March 7, 1922, Morrison and his wife borrowed $1500 from plaintiff hank, for which they executed their note, payable ninety days after date, with interest. With the note there was delivered to the hank the above lease contract, the note reciting that the lease contract was deposited as security for the payment of the note and also for “all other present or future demands of any and all kinds of the holder hereof against the undersigned. ’ ’ There was indorsed upon the contract at the time of…