Traders Finance Corp. v. Humber Motors, (1967) 1 Nfld. & P.E.I.R. 237 (NFTD)

• Judge: Higgins, J.
• Court: Supreme Court of Newfoundland and Labrador (Canada)
• Case Date: November 07, 1967
• Jurisdiction: Newfoundland and Labrador
• Citations: (1967), 1 Nfld. & P.E.I.R. 237 (NFTD)

Traders v. Humber Motors (1967), 1 Nfld. & P.E.I.R. 237 (NFTD)

MLB headnote and full text

Traders Finance Corporation Limited v. Humber Motors

Indexed As: Traders Finance Corp. v. Humber Motors

Newfoundland Supreme Court

Trial Division

Higgins, J.

November 7, 1967.

Summary:

Trial Court held the defendant guarantor liable to the plaintiff for $1,854. for the purchase price of a motor vehicle. The purchaser defaulted and voluntarily surrendered the vehicle to the plaintiff seller. Trial Court held such a surrender does not constitute a repossession under section 12(3) of the Conditional Sales Act. Section 12(3) states purchase price is "fully paid and satisfied" where seller retakes possession of the goods.

Conditional Sales - Topic 2000

Repossession defined - Guarantee - Defendant guaranteed performance of conditional sales contract and collateral promissory note - Default by purchaser - Held voluntary surrender by purchaser of property does not constitute a repossession under Conditional Sales Act - The Newfoundland Supreme Court, Trial Division, held guarantor not released.

Statutes Noticed:

Conditional Sales Act, S.N. 1955, c. 62, sect. 12(3).

Counsel:

F.R. Woolridge, for the plaintiff;

Kevin Barry, Q.C., for the defendant.