Tufts v. Stone

Citations

• 70 Miss. 54

Syllabus

<p>1. Sami. Title reserved. Part payment. Bight of seller.</p> <p>The seller oí personal property, who reserves title until the purchase-money is paid, may, at any time after default and before payment in full, retake the property. In such case, he will not hold it absolutely, but merely as security for the amount due. Dederick v. Wolfe, 08 Miss., 500.</p> <p>2. Record. Contract reserving title. Code 1880, § 1293.</p> <p>Where personal property is delivered to a purchaser, the title being’ reserved by the seller as security for the price, under a written contract, signed and acknowledged by the purchaser, such contract is recordable as a “reservation or limitation of a use or property, by way of condition, reversion or remainder, or otherwise, in goods or chattels, the pos- • session of which remains in another.” Code 1880, §1293.</p> <p>3. Same. Property used in trade. Code 1880, § 1300. Becorded liens.</p> <p>Section 1300, code 1880, providing that personal property used or acquired in the business of a trader, under certain circumstances, shall be treated as his, as against his creditors, has no application against the original seller of such property, who, to secure the purchase-money, reserves title by an instrument signed by the purchaser, and dtily acknowledged and recorded.</p>