Peoples Finance & Thrift Co. v. Bowman

This is an appeal from a judgment in an action for declaratory relief. Plaintiff was awarded $450, with interest and costs, to be paid out of money deposited with the County Clerk of Tulare County. This money was the proceeds from a sale of a Plymouth coupé sold under stipulation.

We will refer to the Mercantile Acceptance Corporation of California as the defendant.

R. J. Bowman was an automobile dealer with his place of business in Visalia, California. Plaintiff and defendant were corporations authorized to finance the purchase and sale of new and used automobiles by means of trust receipts.

Les…