Bailey

Defendant, the respondent herein, sold automobiles on commission for Schmidt & Mead. Auto and Tractor Company, a corporation, of Edwards-ville, Illinois, and on the date of the transaction herein involved had owing to him on such account the sum of $1,400. An automobile was delivered to defendant by said corporation, and the defendant drove it to Los Angeles, where plaintiff, the appellant herein, demanded possession of it, and upon defendant’s refusal to deliver took possession thereof through an action in claim and delivery. No redelivery bond was given. Schmidt & Mead Auto and Tractor Company (for brevity hereinafter called Schmidt & Mead) did not own the automobile, but held it under a so-called “Trust Receipt” signed by them and a so-called “Time Draft” drawn upon them. The “Trust Receipt” acknowledged Commercial Acceptance Trust, plaintiff herein, as the owner of the automobile and prescribed the terms under which Schmidt & Mead held it for sale. Among other provisions of the receipt was the permission of the owner that Schmidt & Mead could exhibit and sell the automobile for not less than $831, and the requirement that upon such sale the proceeds were to be kept separate…