Goldie bought a new refrigerator from Cool Refrigerators Ltd, a retail appliance dealer, under a conditional sales
Question:
Goldie bought a new refrigerator from Cool Refrigerators Ltd, a retail appliance dealer, under a conditional sales agreement. In the contract, Goldie was given the right to possession of the refrigerator in return for promising to make six equal monthly payments of $150. Cool was to retain ownership of the refrigerator until the full price was paid. The contract also stated that if Goldie failed to make a payment, the total of all the outstanding payments became immediately due upon notice from Cool. Moreover, Cool was entitled to take possession of the refrigerator. Goldie has failed to make any payments after the initial instalment. What can Cool do? Describe all the steps that Cool would have to take to enforce its interest.
Step by Step Answer:
Managing the Law The Legal Aspects of Doing Business
ISBN: 978-0132164429
4th edition
Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer