Universal Credit Co. v. Taylor

On May 27, 1933, the Carter Motor Company of Alexandria, by a conditional sales contract sold to defendants a truck for the sum of $1,091, of which $395 was paid in cash, and the balance, $696, was payable in future installments of $58, each, the vendor reserving title to secure the unpaid purchase price. The contract contained, among others, the following provisions:

“In the event the purchaser defaults on any payment * * * this contract shall be in default and the full amount shall become immediately due and payable. Upon any such default the seller * * * may take possession of said property…