Canadian Bankruptcy Reports Annotated Volume 2

Canadian Bankruptcy Reports Annotated Volume 2

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...sale of a new car, the transaction is in effect one of loan to which the Bills of Sale Act, R.S. B.C., I911, ch. 20, and amendments, would apply if in fact the customer turning in the second-hand car had no dealings with the parties making such advances and if the property in the second-hand car consequently passed directly to the debtor company. The fact that lien notes for deferred payments of the balance on the new car were procured to be signed directly to other persons in whose custody it was warehoused as security for prior advances did not dispense with the necessity for evidencing the security taken upon the second-hand car left in the possession and control of the debtor company by a duly registered chattel mortgage and not by a pretended conditional sale contract which named as the conditional purchaser the actual owner at the time of signing same. The purported conditional sale contract held invalid to confer any title to the purported conditional vendor as against the company's trustee in bankruptcy. Application under Rule 120 of the Bankruptcy Rules, by the trustee, for a declaration that Dr. Lyle Telford and Mrs. Mary ane Murray, had no interest in certain automobiles as security for debts owing them by the company. They claim to hold security on the automobiles by virtue of three conditional sale agreements by which they purported to sell the said automobiles to the company. The company was the agent at Vancouver for the makers of the Hupmobile motor car, and not having sufficient capital to finance the purchase and sale of these motor cars, they entered into an arrangement with Messrs. Winram Bros., brokers and financial agents, to assist them in financing. In the course of business the company ordered cars from the...show more

Product details

  • Paperback | 260 pages
  • 189 x 246 x 14mm | 472g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236803469
  • 9781236803467