Jefferson v. Sawyer
Jefferson v. Sawyer
Opinion of the Court
The bill of complaint is filed by Fannie Jefferson and seeks the cancellation of a mortgage on real estate executed by complainant and her husband to secure a part of the purchase price for a moving picture show outfit sold to them by respondent.
The bill shows that respondent, as vendor of said outfit, retained the title thereto, with the right to retake it, if the purchase money, due in monthly installments should not be paid as stipulated; and it is alleged that respondent did retake said property in accordance with the terms of the contract of sale, and that “the obligation of complainant and her husband was fully paid when the respondent repossessed the said property and applied the moneys paid to the rent of the property, as per agreement of purchase.”
The answer admits the allegations of the complaint, but alleges that the property was retaken by respondent, not under the terms of the conditional sale, but under an agreement with complainant that he should take it and sell it, and credit the proceeds on the purchase price indebtedness.
i The issue presented by the pleadings is therefore one of fact, viz.: IVas the property retaken by the vendor under an agreement with complainant that he should so retake it and sell it, and that the proceeds should be applied to the indebtedness? If so, be took and held it as bailee for complainant, and the debt was not thereby extinguished, and the mortgage in question still stands as a valid security for its payment; while the picture show outfit remained and still remains the property of complainant.
Under the evidence, we think that the trial court was justified in denying relief and dismissing the bill of complaint, and the decree appealed from will be affirmed.
Affirmed.
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- Jefferson v. Sawyer.
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