Zederman v. Thomson

Citations

• 17 N.M. 56
• 121 P. 609

Syllabus

<p>SYLLABUS (BY THE COURT).</p> <p>1. The transfer of a promissory note, containing an agreement that the chattel for the price of which the note is given, is to remain the property of the payee until payment, of the principal and interest named in the note, transfers the security as an incident to the note, and upon default in the payment of the note, suit can be maintained by the transferee for the recovery of the property.</p> <p>2. In replevin, it is not necessary to prove the value of the property sought to be recovered where the plaintiff is in possession of the property at the time of trial, and does not seek to recover damages. *</p> <p>3. The payee of a conditional sale note or contract is not required to allege and prove a return or tender of the note or contract before suit can be maintained for the recovery of the property.</p>