Williamson v. Culpepper

This agreement does not admit of the construction placed upon it by the County Court. Indeed it. is scarcely open for construction as to whether it was a conditional sale or security, since it expressly states that Culpepper holds the note “ as collateral security for the sum of two hundred and ninety-five dollars and four cents, due the 1st November 1846.” If, however, the subsequent provision in the contract, “ that on failure of the plaintiff in error to pay that sum on the day it falls due, the defendant was to hold the note on Portis’ as his own- property,” rendered it of doubtful import…