McCabe v. Northampton Trust Co.

Citations

• 60 Pa. Super. 18
• 1915 Pa. Super. LEXIS 142

Syllabus

<p>Contract — Sale—Right of approval — Delay—Passing of title — Corporations — Bankruptcy.</p> <p>Where a contract of sale gives the right of approval of the article to the vendee, and also specifies the time within which payment must be made, the time thus limited for payment will be the time within which the option of approval must be exercised; if the vendor waits for four inonths after the expiration of the time, within which the option of approval must be exercised, with full knowledge of the party to whom he had sold the article and where the article is located, he loses the right to reclaim as against an innocent third person who bought the article for value. The fact that the vendee was a corporation and that it was adjudicated a bankrupt during the running of the four months, is immaterial, inasmuch as the vendor had the right to reclaim the articles within the proper time.</p>