Page:Federal Reporter, 1st Series, Volume 5.djvu/431

 BDACKWBLL V. WALEËK. eI9 �BiiAOKWBUi, Thompson & Co. ». Walkeb Baos. & Co. �Dbal V. Hkchx. �{Oirouit Court, E. D. Arhansas. , 1880.) �1. CoNumoNAi. SAiiBs — Statxjtb op Featos — Rbcobdihg ActS of �StATB op ABKANSA8. �Conditional sales were valid at common law, and their validity was not afiEected by the English statute of frauda, nor are they witliln the recording acts of the state of Arkansas. �2. Samb— Vendoe and Vendee— CBEDiTOESAiro PdechaseEs. �Bucb sales, oral or in writlng, are valid in Arkansas, and creditorg of and purchasers f rom the conditional vendee aoquire no right to the property as against the vendor, who has been guilty of no fraud and no laches in asserting his rights. �3. Same— Statutb of Aekansas, Gantt'b Dig. \ 2967, �If conditional sales are within the statu te of frauda of the state of Arkansas, (section 2957, Gantt's Dig.,) it has no operation on them until the possession has continued in the vendee for flve years. �These cases raise the question of the validity of conditional sales. �In the first case the plaintiffs agreed to sell one Cowger a gin, portable steam-engine, and fixtures for the sum of six hundred and twenty-three dollars and seventy-eight cents, ($623.78,) upon his paying the agreed price. Cowger exe- cuted his note for the price, and plaintiffs gave him posses- sion of the articles upon the distinct verbal agreement that the right of property therein should not pass to him,' but should remain in the plaintiffs until the priee agreed upon ■was fuUy paid. The defendants were creditors of Cowger at the time he received possession of the chattels from the plaintiffs, and subsequently recovered judgment on their debt and caused an execution to be levied on the chattels as the property of Cowger. Cowger still owes $400 on the pur- chase. �The vendors here filed a petition setting up these facts, and asking that the property be discharged from the levy of the execution, and the marshal ordered to deliver same to them. �In the last case there was a conditional sale, substantially ����