Lundberg v. Kitsap County Bank

Citations

• 79 Wash. 75
• 139 P. 769
• 1914 Wash. LEXIS 1150

Syllabus

<p>Sales — Conditional Sales — Contracts — Construction. An instrument acknowledging receipt of the first payment on mill property and reciting the amount of the full purchase price, and providing for a change of possession and time for payment of installments evidenced hy promissory notes, without specifying when the title was to pass, implies a reservation of the title until the notes are paid in full, and must he held to he intended as a conditional sales contract, where it further provided for forfeiture of all payments made in case of failure to pay the installments when due, and also for forfeiture of a dry kiln, if huilt hy the purchasers, who agreed to keep the mill insured until the full price was paid; and all of the parties, except one of the grantees, seemed1 to have construed it as a conditional sales contract.</p> <p>Same — Reservation of Title. The reservation of title essential to a conditional sales contract may he implied from the terms of the contract.</p>