Callahan v. Farm Equipment, Inc.

Minor W. Millwee, Associate Justice.

Appellant, Melvin Callahan, was the owner and operator of Callahan Tractor Company in Lawrence County, Arkansas, in November, 1950, when that company became a retail dealer for the sale of farm machinery manufactured by Harry Ferguson, Inc., hereinafter called Ferguson. The dealership was established under a plan customarily employed by Ferguson which enabled the retailer to ‘‘ floor plan” his merchandise and to immediately receive the price of equipment sold by transferring the conditional sales contracts either to Ferguson or its assignees. Under this…