Pearson v. Picco

E. W. Picco sold a Studebaker coupe on conditional sales contract to Mike Reichlin. The vendee paid $295 on the purchase price of $1,273.80 at the time of the execution of the contract, and obligated himself to pay the balance of $978.80 in eighteen monthly installments of $54.38, commencing July 10; 1931. On or about June 12, 1931, Picco assigned the contract to the O. I. T. Corporation. From the date of the delivery of the car to him until January 14, 1933, the car was in the possession of Eeichlin, who had paid by that time the greater portion of the agreed purchase price. On January 1,…