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Contracts Keyed to Calamari
Yarbro v. Neil B. McGinnis Equipment Co.
Facts
The Appellee, Neil B. McGinnis Equipment Co. (the "Appellee"), sold a used tractor to Russell in August of 1957. Russell was required to make twenty-three monthly installment payments of $574. Russell never even made the first payment. The Appellant, Yarbro (the "Appellant"), agreed to make the first payment and did make the first installment payment for Russell. Russell consistently failed to make any of the required installment payments throughout the late months of 1957 and early months of 1958. The Appellant on more than one occasion orally agreed to make certain of the missed monthly payments for Russell. Several of the Appellant's payments, paid by check, were returned by the bank for insufficient funds. In May of 1958, the Appellee threatened to repossess the tractor, but the Appellee made assurances that the payments would be made. The payments were never made. Additionally, in July of 1958, the Appellee made another similar promise that he never satisfied. Repossession proceedings did not begin until August 1859 and the tractor was not repossessed until January 1959. The Appellant then brought suit against the Appellee and Russell to recover payments under the conditional sales contract. The trial court entered a default judgment against Russell and found the Appellee liable for the entire balance of the conditional sales contract.
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