Motor Bankers Corp. v. C. I. T. Corp.

This is an action to recover damages for an alleged conversion of an automobile. Decision turns upon whether the following so-called trust receipt, accompanied by an accepted time draft, was a conditional sale in the nature of a chattel mortgage, and, for want of registration, no protection against a subsequent good-faith purchaser or mortgagee.

“TRUST RECEIPT.

“Detroit, Michigan, March 8, 1929.

“Received from C. I. T. Corporation, the owner thereof (hereinafter termed C. I. T.) Hudson motor vehicle; model 7-pass, sedan; serial No. 41900; Motor No. 579231, complete with all standard catalogue…