Manufacturers' Finance Acceptance Corp. v. Woods

Upon the sale and delivery of an automobile by a dealer to a customer, part payment being made in cash, balance to be paid in installments, secured by mortgage on the automobile, with stipulation that the mortgagee may retalie possession upon default, or if the automobile is removed or attempted to be removed from the state, or when the mortgagee “deems the debt insecure,” clearly imports a right of possession in the purchaser mortgagor to continue unless and until one of such stipulated events occurs. Boswell & Woolley v. Carlisle, Jones & Co., 70 Ala. 244; Heflin & Phillips v. Slay, 78 Ala.…