Knowles Loom Works v. Ryle

MePHERSON, District Judge.

Two questions are raised by this motion:

1. Is the defendant a bona fide purchaser for value of the silk company’s bonds, so that he is at liberty to question the legal validity of the so-called “lease” made by the plaintiff to the silk company? There is no dispute upon this point. The question must be answered in the affirmative.

2. Was the contract between the plaintiff and the silk company a bailment or a conditional sale? To this question I think the answer must be that the contract was a conditional sale; the consequence being that it cannot be enforced against…