Duarte v. Minnick

Citations

• 85 Wash. 539
• 148 P. 600
• 1915 Wash. LEXIS 855

Syllabus

<p>Sales — Conditional Sales — Nature of Seller’s Interest — Assignment of Contract — Rights of Assignee. The seller of goods under a conditional sales contract retains the absolute title thereto, subject to be defeated by the payment of whatever balance is due upon the agreed purchase price; hence an assignment of the contract to a third party which had been advancing to the vendee the sums due on the contract, purporting to transfer all the interest that the vendor “has ever had in the property,” would operate to pass no more than the vendor’s defeasible interest for the balance due, which would be extinguished on payment of such balance to the assignee.</p> <p>Subrogation — Assignment of Conditional Sales Contract — Rights of Assignee. The mere fact that a bank advanced sums of money from time to time as loans to aid a company in making payments on machinery under a conditional sales contract, under an indefinite and uncertain agreement that the bank should have security thereon, which was never consummated in any way, and that the bank finally paid off the balance due on the machinery, receiving an assignment of the conditional sale contract, would not entitle it to be subrogated to the rights of the conditional sales vendor or give it greater rights than those of an unsecured creditor.</p>