Thornton v. Carson

The facts necessary for a determination of this matter are as follows. On 29 April 1974, the petitioners, drapery manufacturers, entered into a contract with the Industrial Sewing Machine Exchange, Inc., an Arizona corporation, to buy a new U.S. Blindstitch industrial sewing machine, model number 718-9. The price was $670.80, half to be paid at the time of the contract and the remainder in three monthly installments of $111.80. The agreement provided that the Industrial Sewing Machine Exchange, Inc., not only had a security interest in the sewing machine, but retained title to the goods until all sums due as provided by the contract were fully paid. The contract also provided that for failure to make timely payments the Industrial Sewing Machine Exchange, Inc., could, with or without notice or legal process, repossess the sewing machine. This agreement was recorded with the Maricopa County Recorder. Thereafter a dispute arose as to the servicing of the machine and the payment due on or before 1 August 1974 was not made.