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Section 14. [Refiling on Removal.] When, prior to the performance of the condition, the goods are removed by the buyer from a filing district in this state to another filing district in this state in which such contract or a copy thereof is not filed, or are removed from another state into a filing district in this state where such contract or copy is not filed, the reservation of the property in the seller shall be void as to the purchasers and creditors described in Section 5, unless the conditional sale contract or a copy thereof shall be filed in the filing district to which the goods are removed, within ten days after the seller has received notice of the filing district to which the goods have been removed. The provi sions of this section shall not apply, however, to the goods described in Section 8. The provisions of Section 11 regarding the duration of the validity of the filing and the necessity for refiling shall apply to contracts or copies which are filed in a filing district other than that where the goods are originally kept for use by the buyer after the sale.

Section 15. [Fraudulent Injury, Concealment, Removal or Sale.] When, prior to the performance of the condition, the buyer maliciously or with intent to defraud, shall injure, destroy or conceal the goods, or remove them to a filing district where the contract or a copy thereof is not filed, without having given the notice required by Section 13, or shall sell, mortgage, or otherwise dispose of such goods under claim of full ownership, he shall be guilty of a crime and upon conviction thereof shall be imprisoned [in the county jail] for not more than [one year] or be fined not more than [$500] or both.

Section 16 [Retaking Possession.] When the buyer shall be in default in the payment of any sum due under the contract, or in the performance of any other condition which the contract requires him to perform in order to obtain the property in the goods, or in the performance of any promise the breach of which is by the contract expressly made a ground for the retaking of the goods, the seller may retake possession thereof. Unless the goods can be retaken without breach of the peace, they shall be retaken by legal process, but nothing herein shall be construed to authorize a violation of the criminal law.

Section 17. [Notice of Intention to Retake.] Not more than forty nor less than twenty days prior to the retaking, the seller, if he so desires, may serve upon the buyer personally or by registered mail a notice of intention to retake the goods on account of the buyer's default. The notice shall state the default and the period at the end of which the goods will be retaken, and shall briefly and clearly state what the buyer's rights under this act will be in case they are retaken. If the notice is so served and the buyer does not perform the obligations in which he has made default before the day set for retaking, the seller may retake the goods and hold them subject to the provisions of Sections 19, 20, 21, 22 and 23 regarding resale, but without any right of redemption.

Section 18. [Redemption.] If the seller does not give the notice of intention to retake described in Section 17, he shall retain the goods for ten days after the retaking within the state in which they were located when retaken, during which period the buyer, upon payment or tender of the amount due under the contract at the time of retaking and interest, or upon performance or tender of performance of such other condition as may be named in the contract as precedent to the passage of the property in the goods, or upon performance or tender of performance of any other promise for the breach of which the goods were retaken, and upon payment of the expenses of retaking, keeping and storage, may redeem the goods and become entitled to take possession of them and to continue in the performance of the contract as if no default had occurred. Upon

written demand delivered personally or by registered mail by the buyer, the seller shall furnish to the buyer a written statement of the sum due under the contract and the expense of retaking, keeping and storage. For failure to furnish such statement within a reasonable time after demand, the seller shall forfeit to the buyer [$10] and also be liable to him for all damages suffered because of such failure. If the goods are perishable so that retention for ten days as herein prescribed would result in their destruction or substantial injury, the provisions of this section shall not apply, and the seller may resell the goods immediately upon their retaking. The provision of this section requiring the retention of the goods within the state during the period allowed for redemption shall not apply to the goods described in Section 8.

Section 19. [Compulsory Resale by Seller.] If the buyer does not redeem the goods within ten days after the seller has retaken possession, and the buyer has paid at least fifty per cent. of the purchase price at the time of the retaking, the seller shall sell them at public auction in the state where they were at the time of the retaking, such sale to be held not more than thirty days after the retaking. The seller shall give to the buyer not less than ten days' written notice of the sale, either personally or by registered mail, directed to the buyer at his last known place of business or residence. The seller shall also give notice of the sale by at least three notices posted, in different public places within the filing district where the goods are to be sold, at least five days before the sale. If at the time of the retaking $500 or more has been paid on the purchase price, the seller shall also give notice of the sale at least five days before the sale by publication in a newspaper published or having a general circulation within the filing district where the goods are to be sold. The seller may bid for the goods at the resale. If the goods are of the kind described in Section 8, the parties may fix in the conditional sale contract the place where the goods shall be resold.

Section 20. [Resale at Option of Parties.] If the buyer has not paid at least fifty per cent. of the purchase price at the time of the retaking, the seller shall not be under a duty to resell the goods as prescribed in Section 19, unless the buyer serves upon the seller, within ten days after the retaking, a written notice demanding a resale, delivered personally or by registered mail. If such notice is served, the resale shall take place within thirty days after the service, in the manner, at the place and upon the notice prescribed in Section 19. The seller may voluntarily resell the goods for account of the buyer on compliance with the same requirements.

Section 21. [Proceeds of Resale.] The proceeds of the resale shall be applied (1) to the payment of the expenses thereof, (2) to the payment of the expenses of retaking, keeping and storing the goods, (3) to the satisfaction of the balance due under the contract. Any sum remaining after the satisfaction of such claims shall be paid to the buyer.

Section 22. [Deficiency on Resale.] If the proceeds of the resale are not sufficient to defray the expenses thereof, and also the expenses of retaking, keeping and storing the goods and the balance due upon the purchase price, the seller may recover the deficiency from the buyer, or from anyone who has succeeded to the obligations of the buyer.

Section 23. [Rights of Parties Where There is No Resale.] Where there is no resale, the seller may retain the goods as his own property without obligation to account to the buyer except as provided in Section 25, and the buyer shall be discharged of all obligation.

Section 24. [Election of Remedies.] After the retaking of possession as provided in Section 16 the buyer shall be liable for the price only after a resale and only to the extent provided in Section 22. Neither the bringing of an action by the seller for the recovery of the whole or

any part of the price, nor the recovery of judgment in such action nor the collection of a portion of the price, shall be deemed inconsistent with a later retaking of the goods as provided in Section 16. But such right of retaking shall not be exercised by the seller after he has collected the entire price, or after he has claimed a lien upon the goods, or attached them, or levied upon them as the goods of the buyer.

Section 25. [Recovery of Part Payments.] If the seller fails to comply with the provisions of Sections 18, 19, 20, 21 and 23 after retaking the goods, the buyer may recover from the seller his actual damages, if any, and in no event less than one-fourth of the sum of all payments which have been made under the contract, with interest.

No act or agree

Section 26. [Waiver of Statutory Protection.] ment of the buyer before or at the time of the making of the contract nor any agreement or statement by the buyer in such contract, shall constitute a valid waiver of the provisions of Sections 18, 19, 20, 21 and 25; except that the contract may stipulate that on such default of the buyer as is provided for in Section 16, the seller may rescind the conditional sale, either as to all the goods or as to any part thereof for which a specific price was fixed in the contract. If the contract thus provides for rescission, the seller at his option may retake such goods without complying with or being bound by the provisions of Sections 17 to 25 inclusive, as to the goods retaken, upon crediting the buyer with the full purchase price of those goods. So much of this credit as is necessary to cancel any indebtedness of the buyer to the seller shall be so applied, and the seller shall repay to the buyer on demand any surplus not so required.

Section 27. [Loss and Increase.] After the delivery of the goods to the buyer and prior to the retaking of them by the seller, the risk of injury and loss shall rest upon the buyer. The increase of the goods shall be subject to the same conditions as the original goods.

Section 28. [Act Prospective Only.] This act shall not apply to conditional sales made prior to the time when it takes effect.

Section 29. [Rules for Cases Not Provided For.] In any case not provided for in this act the rules of law and equity, including the law merchant, and in particular those relating to principal and agent and to the effect of fraud, misrepresentation, duress or coercion, mistake, bankruptcy, or other invalidating cause, shall continue to apply to conditional sales.

Section 30. [Uniformity of Interpretation.] This act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it.

Section 31. [Short Title.] This act may be cited as the Uniform Conditional Sales Act.

Section 32. [Inconsistent Laws Repealed.] Except so far as they are applicable to conditional sales made prior to the time when this act takes effect, the following acts shall be and hereby are repealed. [Here repeal all existing acts in the field of conditional sales.]

Section 33. [Time of Taking Effect.] This act shall take effect

INDEX

[The figures refer to pages]

ACCEPTANCE,

Of draft for price, right of buyer to document of title upon, 147–150.
Of goods by buyer, effect of, upon right to recover for breach of war-
ranty, 468-479.

What constitutes, 467.

And receipt under the Statute of Frauds,

See Statute of Frauds.

ANIMALS,

Sale of future offspring of, 9.

APPROPRIATION,

As means of passing property in unascertained goods, 80-121.
What constitutes, in the case of building materials, 83-91.

Setting aside or marking goods as appropriation, 91-105.

Delivery to carrier as appropriation, 105–121.

Effect of delivery of excessive quantity of goods to carrier, 107.

Effect of failure to follow shipping directions of buyer, or to secure
buyer against loss in transit, 108.

ATTACHMENT,

Right of, when there is outstanding document of title, 189-191.
Right of, in case of conditional sale,

BAILEE,

See Conditional Sale.

Power of, to transfer title, 191-217.

BILL OF LADING,

See Document of Title.

BONA FIDE PURCHASER FOR VALUE,

Of document of title, 159-189.

Of document of title from one intrusted with possession, 159-181.
Of document of title from thief or finder, 182-186.

Of spent document of title, 187-189.

From bailee or factor, 191-217.

From buyer under conditional sale, 218-226.

From fraudulent buyer, 274-293.

What constitutes "good faith" and "value," 287–293.

BULK SALE,

Effect of, under Sale in Bulk statutes, 294–297.

CARRIER,

Delivery of goods to, as appropriation, 105-121.

See Appropriation.

Effect of "C. O. D." terms on transfer of property, 108-111.
Effect of "f. o. b." terms on transfer of property, 112-116.
Effect of "c. i. f." terms on transfer of property, 117–121.

[blocks in formation]

CASH SALE,

[The figures refer to pages]

Transfer of property in, 46-60.

CONDITIONAL SALE,

Nature and validity of, 218–226.

Assignability of buyer's interest in, 226-228.

Rights of creditors of buyer in, 228, 229.

For resale, 230, 231.

Distinguished from delivery on trust receipt, 232-241.

Risk of loss in, 321-323.

Remedies of seller in, 606–636.

Right to recover price when buyer refuses to accept goods, 606-608.
Right to retake goods after judgment for price, 608-613.

Right to recover price after retaking goods, 613-617.

Right to retake goods after suing for installment of price, 617-619.
Remedies of holder of trust receipt distinguished, 619-623.

Right of buyer to redeem goods or to recover payments made, after re-
taking of goods by seller, 623-633.

Validity of waiver of provisions of Conditional Sales Act, 633-636.

Right of buyer to recoup for breach of warranty in action of replevin
by seller, 655.

CONSIGNMENT,

Distinguished from "sale and return," 39-43.

Power of consignee to transfer title, 212–216.

COST, INSURANCE, AND FREIGHT,

See Carrier.

CROPS,

Sale of future, 6-8.

DELIVERY,

To carrier as appropriation, 105–121.

See Appropriation; Carrier.

As essential to transfer of property, 248-252.
See Retention of Possession by Seller.

Duty of seller as to time of, 419-425.

Duty of seller as to place of, 419.

What constitutes, when goods are in possession of third person, 425.
Effect of tender of, defective as to quantity, 426-429, 433-443.
Effect of tender of, defective as to quality, 429-433, 443-445.
Effect of buyer's failure to pay for goods, 445-451.

Effect of seller's default in delivery of one installment, 433-445.
Effect of buyer's default in paying for one installment, 445-451,

DESTRUCTION OF THE GOODS,

Effect of, prior to formation of contract, 1-5.

Effect of, after formation of contract, 298–330.

See Risk of Loss.

DIVISIBLE CONTRACTS,

Effect of seller's default in delivery of one installment, 433-445.
Effect of buyer's default in paying for one installment, 445–451.

DOCUMENT OF TITLE,

Effect of issue of, and of negotiation or transfer of, 121–191.
Effect of issue of, when the seller or his agent is consignee, 121-139.
Effect of issue of, when the buyer is consignee, 140-147.
Effect of issue of, when a third person is consignee, 150-158.
Effect of acceptance of draft attached to, 147-150.

Effect of issue of, in sets, 175, 176.

Effect of negotiation or transfer of, 159–191.

See Attachment; Bona Fide Purchaser for Value.

ESTOPPEL OF OWNER,

To deny authority of holder of document of title to sell, 159-186.
To deny authority of bailee or factor to sell, 191-217.

In case of conditional sale, 218-231.

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