Page:United States Statutes at Large Volume 76A.djvu/244

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–148–

-148attached to or forming a part of land which are agreed to be severed before sale or under the conditional sale; "performance of the condition" means the occurrence of the event upon which the property in the goods is to vest in the buyer, whether the event is the performance of an act by the buyer or the happening of a contingency; "person" includes an individual, partnership, corporation, and other association; "purchase" includes mortgage and pledge; "purchaser" includes mortgagee and pledgee; "seller" niealns the person who sells or leases the goods covered by the conditional sale, or legal successor in interest of such a person. § 1572. Primary rights of buyer The buyer has the right when not in default to retain possession of the goods, and he also has the right to acquire the property in the goods on the performance of the conditions of the contract. The seller is liable to the buyer for the breach of all promises and warranties, express or implied, made in the conditional sale contract, whether or not the property in the goods has passed to the buyer. § 1573. Primary rights of seller The buyer is liable to the seller for the purchase price, or for installments thereof, as the same become due, and for breach of all promises made by him in the conditional sale contract, whether or not the property in the goods has passed to the buyer. § 1574. Conditional sales valid except as otherwise provided A provision in a conditional sale reserving property in the seller after possession of the goods is delivered to the buyer, is valid as to all persons, except as heremafter otherwise provided. § 1575. Conditional sales void as to certain persons A provision in a conditional sale reserving property in the seller is void as to any purchaser from or creditor of the buyer, who, without notice of the provision, purchases the goods or acquires by attachment or levy a lien upon them, before the contract or a copy thereof is filed as hereinafter provided. This section does not apply to conditional sales of goods for resale. § 1576. Place of filing The conditional sale contract or a copy thereof shall be filed in the office of the registrar of property of the Canal Zone. § 1577. Conditional sale of goods for resale When goods are delivered under a conditional sale contract and the seller expressly or impliedly consents that the buyer may resell them prior to performance of the condition, the same is valid whether filed or not except that the reservation of property is void against purchasers from the buyer in good faith for value and without actual Knowledge of the condition of the contract. § 1578. Filing The registrar of property shall mark upon the contract or copy filed with him the day and hour of filing and shall file the contract or copy in his office for public inspection. He shall keep a separate book in which he shall enter the names of the seller and buyer, the date of the contract, the day and hour of filing, a brief description of the goods, the price named in the contract, and the date of cancellation thereof. The book shall be indexed under the names of both seller and buyer. For filing and entering such a contract or copy, or any assignment of such a contract, the registrar is entitled to a fee of $1.