¶1 A conditional sale is when at the time of the contract the absolute property passes to the vendee, but subject to be defeated by paying the sum advanced: the Negro, until the money paid back, belongs to the vendee, and if he dies it is the loss of the vendee ; he is entitled to his services in the interim, and is not entitled to the money advanced for him, and so cannot claim the interest of it: Here the money was loaned, interest was to be paid on it, the Negro, if he died, was to be considered as the propeity of the complainant. He was therefore a pledge for the security of the money; was redeemable; and being once so was always so. He must be delivered up and his yearly value accounted for, deducting from thence the money loaned and the interest; after each value shall be ascertained, interest must be paid on such yearly value from the time it becomes due.
3 N.C. 405
Marshall v. . Williams
Superior Court of North Carolina
Decided July 5, 1806
Superior Court of North Carolina · decided 1806-07-05
'tpIKS bill in equity stated that sometime prior to the 25th -*■ cember, l'/89, the complainant borrowed of the defendant’s testator, £ 25, Virginia money, and gave him a bill of sale Cor a* Negro man, with an endorsement stating that if the £ 25, with interest should be repaid on the 25th ol'Deceinber, 1789, the bill of sale should be void; but if not paid with interest on that day, then Williams should be entitled to the Negro and a further bill of sale, and should pay £…
Decided 1806-07-05