Hand v. Matthews

Citations

• 208 Pa. 149
• 57 A. 351
• 1904 Pa. LEXIS 718

Syllabus

<p>Contract— Sale— Sale fur cash — Delivery—Passing of title —Auction sales,</p> <p>On a sale of goods, where'there is no agreement as to credit and there has been no actual delivery, the title will not pass to the purchaser, until the purchase money has been paid. This rule applies to auction sales.</p> <p>Sale — Replevin—Joint stock association — Liquidation.</p> <p>In an action of replevin against the liquidating trustees of a joint stock association, it appeared that plaintiffs purchased at a public sale of the defendants certain personal property of the limited company. Plaintiffs paid the auctioneer a small proportion of the purchase money in cash and tendered him in payment of the balance a receipt upon account of ar-rearages of interest on certain mortgages. This receipt was declined. It appeared that the mortgages owned by the plaintiffs were made by certain of the members of the limited company, and when the company was organized it assumed these mortgages. It did not appear that the liquidating trustees ever assumed payment of the interest upon the mortgages or were liable for it in any way. There was evidence that the liquidating trustees subsequently sold the real estate of the company and the purchaser took it subject to payment of the mortgages. Held, that the plaintiffs were not entitled to maintain their action of replevin and that a nonsuit was properly entered.</p>