Kuhn v. Groll

Citations

• 118 Wash. 285
• 203 P. 44
• 1922 Wash. LEXIS 620

Syllabus

<p>Sales (168) — Conditional Sales — Contract—Construction. Conditional sales contracts with forfeiture provisions are not favored by the law, and a court will not view a contract of sale as a conditional sale until it is clearly proven to be one.</p> <p>Pledges (3) — ’What Constitutes — Delivery and Possession. Where the holder of corporate stock sells it to another, who pays part of the price and delivers promissory notes for the balance, the certificate of stock being left in the possession of the seller without any express agreement as to the purpose other than that he retain possession until the notes are paid, the transaction constitutes a pledge of such stock to secure the indebtedness of the purchaser, instead of a conditional sales contract.</p> <p>Bills and Notes (9, 137) — Execution—Liability—Accommodation Maker. Under Rem. Code, § 3420,’ providing that an accommodation maker of a promissory note is liable thereon to a holder for value, the fact that one signs notes given for a sale of corporate stock in which he has no interest only as an accommodation maker, and that extension of time for the notes was granted without his knowledge or consent, would not exonerate him from liability.</p> <p>Husband and Wipe (82) — Community Property — Debt op Husband — Bills and Notes. A promissory note given by a husband to promote the financial welfare of a canning company in which he is interested, thereby redounding to the benefit of the community, is a community obligation.</p>