Walker v. Carpenter

1. An instrument acknowledging receipt of certain personal property and containing a promise by the maker thereof to pay a certain sum in stated instalments, but reserving the title in the vendor as to the property until the payments are fully made, is, although it. contains no words of negotiability, assignable, under §3682 of the Civil Code. Where the payee of such an instrument, by a writing placed on the back of it, “transfers, sells, and! assigns” the bill of sale, the note, and the title to the property, to a third person, he becomes such an indorser as to be liable to suit in the same…