Holt Manufacturing Co. v. Brotherton

Citations

• 91 Wash. 354
• 157 P. 849
• 1916 Wash. LEXIS 1051

Syllabus

<p>Evidence — Oral Evidence — To Vary Writing — Indorsement on Note. Oral evidence is inadmissible to vary the legal effect of an indorsement on a note by showing an agreement between indorser and indorsee that it was to be indorsed without recourse.</p> <p>Payment — Evidence—Note in Lieu of Cash. Upon the sale of a combined harvester and the execution of a chattel mortgage to secure notes for the price, it is consistent to accept a note “in lieu” of cash for the first installment which was to be paid by delivery of the note, and to describe it in, and secure it by, the mortgage; since taking the note in lieu of cash does not extinguish the debt.</p> <p>Evidence — Parol Evidence — To Vary Writing — Chattel Mortgages — Debt Secured. In the absence of fraud or mistake, a chattel mortgage stating that it was given to secure a note described therein cannot be modified by a previous or contemporaneous oral agreement to the effect that such note was taken in lieu of cash and was not to be secured by the mortgage.</p>