Absolute and conditional sales

An absolute sale is one where the property in chattels passes to the buyer .upon the completion of the bargain between theparties. Truax v. Parvis, 7 "Houst. (Dei.) 330, 32 Atl. 227. A conditional sale is one in which the transfer of title is made to depend on the performance of a condition ; or a purchase for a price paid or to be paid to become absolute on a particular event, or a purchase accompanied by an agreement to resell upon particular terms. 'Poindexter v. Mc-Cannon, 16 N. C. 373, 18 Am. Dec. 591; Crimp v. McCo.rmick Const. Co., 72 Fed. 366, 18 C. C. A. 695; Churchill v. Demeritt, 71 N. H. llO, 5l Atl. 254; Van Allen v. Francis, 123 Cal. 474, 56 Pac. 339. Conditional sales are distinguishable from mortgaged. They are to be taken strictly as independent deniings between strangers. A mortgage is a security for a debt, while a conditional sale is a purchase for a price paid, or to be paid, to become absolute on a particular event; or a purchase accompanied by an agreement to resell upon particular terms. Turner v. Kerr, 44 Mo. 429; Crane v. Bon-nell, 2 N. J. Eq. 264; Weathersly v. Weathers-ly, 40 Miss. 462, 90 Am. Dec. 344; Hopper v. Smyser, 90 Md. 363, 45 Atl. 206.

Defined under Sale in Black's Law Dictionary.