[DOWNLOAD] "Hoffman v. Cream-O-Products." by United States Court Of Appeals Second Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Hoffman v. Cream-O-Products.
- Author : United States Court Of Appeals Second Circuit
- Release Date : January 20, 1950
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 56 KB
Description
The order on appeal held void as against the trustee in bankruptcy of the vendee the reservation of title of personal property described in a conditional bill of sale which provided: "Title to said machines and machinery shall remain in the vendor until the full purchase price therefor has been paid by the vendee in accordance with an agreement being entered into simultaneously herewith between the parties hereto." The conditional bill of sale was filed for record in the proper Registers Office but the contemporaneously executed written agreement by which the parties specified the purchase price of the machines and the time and manner of payment thereof, was never filed for record. Because of failure to file such agreement the referee in bankruptcy held that the local statute, N.Y. Personal Property Law, Mc.K. Consol.Laws, c. 41, § 65, invalidated the reservation of title, and the district court confirmed the referees order. The decision is affirmed on the authority of Empire State Chair Co., Inc. v. Beldock, 2 Cir., 140 F.2d 587, certiorari denied 322 U.S. 760, 64 S. Ct. 1278, 88 L. Ed. 1587. The appellants attempt to distinguish the Beldock case because there the unfiled portion of the contract was a description of the goods while here it was a specification of the price and terms of payment, furnishes no rational basis for distinction. The statute requires "the contract or copy thereof" to be filed for record. We cannot doubt that the failure to file so substantial a part of the contract as gives notice of the price and terms of payment is a fatal defect.