Belle'Isle v. Hempy

Plaintiff-appellant sold his liquor store and transferred its liquor license under a conditional sale agreement executed February 14, 1953, which provided that plaintiff was to retain title to the business as security for the payment of the balance of the purchase price and that, in the event of a default in the monthly payments as agreed upon, the buyers would transfer the license back to plaintiff or his nominee.

The business thereafter failed. On March 18, 1955, assignees of the original buyers, with full knowledge of appellant’s rights under the conditional sale agreement, assigned the…