Relyea v. Pacific Fire Insurance

The plaintiffs, on September 9th, 1935, purchased of the General Auto Sales Company an Auburn Speedster automobile as a new car for $2500, giving their notes for certain monthly instalments to cover the unpaid $1880 of this price. These notes were secured by a conditional bill of sale which the Sales Company forthwith assigned to the Colonial Acceptance Corporation together with the notes. This corporation was engaged in the business of financing sales of automobiles for dealers. In connection with this corporation’s operations, the Pacific Fire Insurance Company, hereinafter referred to as…