(Download) "Commercial Credit Corporation v. Chisholm" by Supreme Court of Idaho No. 11168 ~ Book PDF Kindle ePub Free
eBook details
- Title: Commercial Credit Corporation v. Chisholm
- Author : Supreme Court of Idaho No. 11168
- Release Date : January 12, 1974
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
This is an appeal from a judgment in favor of a defendant in an action in which recovery was sought on a contract of continuing guaranty. Following trial the district court granted a motion for involuntary dismissal and rendered judgment for the defendant on the merits. We reverse. Plaintiff-appellant Commercial Credit Corporation conducts a financing business and the defendant-respondent Chisholm Bros. is a corporation engaged in the sale and service of trucks, automobiles and farm equipment. Prior to the present dispute the parties had been dealing with each other for approximately ten years during which Commercial Credit regularly purchased notes, conditional sales contracts and other security instruments from Chisholm Bros. On June 12, 1958, the parties hereto executed a written instrument designated as Reserve Agreement.[Footnote 1] By the terms of the instrument Chisholm Bros. agreed to sell to Commercial Credit acceptable notes, conditional sale contracts or other security instruments which it might acquire from purchasers of new or used vehicles. Certain provisions of the instrument required certain actions to be taken by Commercial Credit within stated time limits after any default by a purchaser prior to any liability attaching to Chisholm Bros. It is clear thereby that Chisholm Bros. assumed the role of a continuing conditional guarantor.