State Bank v. Johnson

Citations

• 104 Wash. 550
• 177 P. 340
• 3 A.L.R. 235
• 1918 Wash. LEXIS 1219

Syllabus

<p>Sales (179-1) — Conditional Sales — Assignment of Contract— Effect. The vendor in a conditional sales contract reserving the title until the contract price was fully paid, may sell and transfer its title, and the intention to do so is manifested by a written indorsement on the bill of sale transferring all the vendor’s right, title and interest in and to the within note and conditional bill of sale.</p> <p>Same (179-1, 182) —Assignment of Contract — Remedies of Siller — Election. Where a conditional sales contract retaining title in the vendor embodied a promissory note for the balance due, all as part of one instrument, an assignment of the conditional bill of sale and note guaranteeing its payment and fulfillment, merely renders the assignor liable as a guarantor should the assignee elect to seek recovery of the balance of the debt, and does not constitute an election that would vest title to the article sold in the conditional sales vendee.</p> <p>Same. After assignment of a conditional sales contract of an automobile, surrender by the vendee to the vendor with notice of the assignment, vests no title in the vendor, who can convey no title to an innocent purchaser, regardless of the fact that there was no constructive notice of the assignment under the recording laws; since the buyer acquires no title where the seller had none.</p> <p>Same (96-99) — Rights of Buyers as to Third Persons — Title— Innocent Purchasers. Since the doctrine of sale in market overt does not obtain in this country, a buyer of an automobile from a dealer in possession acquires no rights as an innocent purchaser from one in possession with apparent title, where the dealer had previously sold it under a conditional sales contract reserving title, and had assigned the contract of sale with all title to the property, and the conditional sales vendee surrendered the automobile to the vendor.</p>