Jordan v. Peek

Citations

• 103 Wash. 94
• 173 P. 726
• 1918 Wash. LEXIS 1006

Syllabus

<p>Sales — Conditional Sales — Conteacts — Constbuction. A contract to take over a stock o£ merchandise constitutes a conditional sales contract, where the buyers agreed to purchase the stock at a future date and meanwhile in disposing of the stock and carrying on the business, to act as agents of the sellers, who were guaranteed against loss and were entitled to hold the buyers to payment of the full purchase price, whereupon the contract “shall then become a full, complete and executed bill of sale.”</p> <p>Sales — Conditional Sales- — Remedies —- Election. A provision in a conditional sales contract giving the vendors the right to take over the stock and apply the proceeds on the purchase price and maintain suit for the balance, is contrary to law and to Civ.- Code, S. D. § 1814, there being only a choice of remedies; and having elected to take the property, the vendors cannot recover the unpaid balance of the purchase price.</p>