Honnold v. Pacific Finance Corp.

On November 10, 1926, Walter L. Clapham, the legal owner of a Chrysler sedan, sold it to F. W. Stock-dale under a conditional sales contract, which reserved the title in the seller, and provided, among other things, that should the buyer fail or neglect to comply with the terms of the contract, or fail to make the deferred payments according to the terms thereof, the seller might exercise his option of declaring the unpaid portion of the purchase price due and payable, and bring suit therefor, or might, without notice, declare the buyer’s rights under the contract terminated and immediately…