[Download] "Tyler State Bank & Trust Co. v. Bullington." by United States Court Of Appeals Fifth Circuit. ~ eBook PDF Kindle ePub Free
eBook details
- Title: Tyler State Bank & Trust Co. v. Bullington.
- Author : United States Court Of Appeals Fifth Circuit.
- Release Date : January 30, 1950
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 63 KB
Description
Appellant furnished the purchase price for fifty radios which had been ordered by Randall Brothers and shipped collect on delivery. At that time, on August 27, 1946, Randall Brothers executed to the bank a bill of sale evidencing the sale, transfer and delivery of the described radios, covenanting therein that they are "the lawful owners of said chattels," and that the undersigned would "warrant and defend the same against the lawful claims and demands of all persons." Apparently attached to this was what is denominated a "trust receipt" which acknowledged the receipt from the bank of the articles described in the bill of sale, and by which Randall Brothers agreed not to sell or otherwise dispose of the articles until after payment of the note. The note referred to promised payment on demand of the $1373.72 which had been advanced by the bank and acknowledged the pledge as collateral for the payment of the note of the fifty radios. The note permitted a sale of the radios with or without notice, and obligated the maker to pay any balance of the note after crediting the amount received at any such sale.
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