Sadd v. Siegelbaum

The material facts of this case are these: On April 6th, 1932, the plaintiff, a dealer in motor trucks, entered into a conditional sales contract with the defendant for the sale of a truck at a price of $1710, to be paid in instalments, conditioned that when the balance of the purchase price was paid the truck should become the property of the defendant. Prior to January, 1936, the defendant had paid in accordance with the contract the sum of $1310, and, at that time, he conceived the idea of forming a corporation to carry on the business of a wholesale grain and provision dealer, and of…