Daggs

On the thirteenth day of June, 1921, the defendants, Daggs and Newton, entered into a written contract, whereby the first named purchased from the last named a Stutz automobile for the sum of two thousand eight hundred dollars, of which the sum of one thousand dollars was paid on the execution of the contract and the balance to be paid on the thirteenth day of October, 1921, the deferred payment to draw interest at the rate of eight per cent per annum, payable monthly. The agreement, among other things, provides that the title to the automobile shall remain in the seller until the purchaser has made all payments thereby required ; that, in case any such payments were not made at or within the time stipulated therein, the seller may declare the entire balance of the purchase price and accrued interest due and payable without notice or may take immediate possession of said automobile, etc.; that the seller may assign and transfer the agreement to a third party. Time is made of the essence of the agreement.

The complaint alleges that on the date of the execution of said agreement, to wit, the thirteenth day of June, 1921, the defendant, W. H. Newton, assigned and transferred to the…