Plaintiff’s position is that, by the contract between him
When the contract is looked at in all of its provisions, it is clear, we think, that defendant did not under it acquire the absolute ownership of the property. That it conveyed the title to him is certainly true, and that it clothed him with the right, in a certain contingency, to sell it, and empowered him to transfer the title to the purchaser, is equally clear; but it is apparent from the terms of the agreement that the parties intended it as a security. It contains a- condition in the nature of a defeasance. Whittaker reserved the right to pay when any car-load of the hay should be loaded the amount due to defendant for baling the same, and any other expenses he might have incurred with reference to it; and upon such payment the property therein would reinvest in him. The right conferred upon defendant was to sell the property in default. Every essential condition of a chattel mortgage is expressed in the instrument. (See Jones, Chat. Mort, (2d Ed.) §§ 14: — IT.) Up to the time defendant shipped the property
Arrirmisd.