C. I. T. Corp. v. Commercial Bank

This is an appeal from a judgment in favor of plaintiff for possession of three motor vehicles delivered to it by the sheriff in a claim and delivery proceeding.

Clifford H. Knutson, a retail automobile dealer, on December 12, 1935, entered into an agreement with plaintiff C.I.T. Corporation, hereinafter referred to as C.I.T., for the financing and delivery to him under trust receipts, of automobiles for exhibition and sale. By the terms of the contract Knutson agreed that “On receiving such merchandise or the documents therefor we will execute to you our Trust Receipts therefor,-. . . and our…