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Determining the left on the note

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Reference no: EM131478132

Dave Deadbeat had purchased an automobile for his own personal use from Leo Lemon's Used Cars for $5,000. The dealer financed it for him charging him $1,500 credit service charge over three years. After the first year, Dave defaulted. Leo peaceably repossessed the car and thereafter sold it without notice for $2,000; which was the fair market value. Leo then sued for a $1,000 deficiency, since Dave had a balance of $3,000 left on the note. In Missouri, who would recover what?

Reference no: EM131478132

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