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Contracts Keyed to Marshall
Yarbro v. Neil B. McGinnis Equipment Co.
Citation:
420 P.2d 163 (1966)Facts
The appellee, McGinnis Equipment Co., brought suit to recover payments due it pursuant to a conditional sales contract for the sale of one used Allis-Chalmers Model HD-5G tractor. The contract was negotiated in August of 1957 and called for twenty-three monthly installments of $574.00 each. The buyer, Russell, failed to make the first monthly payment, and on his suggestion a McGinnis company representative met with the appellant, Yarbro, to ask if he would help with the payments. As a result of this meeting Yarbro agreed to, and did, pay the September installment. In May, 1958 when McGinnis Co. indicated that the tractor soon would have to be repossessed, Yarbro again assured the company that it would be paid as soon as two pending real estate escrows were closed. This promised payment was not made. Subsequently, the McGinnis Co. brought an action to recover the payments due under the conditional sales contract, naming Russell and Yarbro as defendants.
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