Simple purchased a snowmobile from Simon under a conditional sale agreement.Simon registered the conditional sale agreement pursuant to the requirements for registration set down in the provincial legislation.Simple later sold the snowmobile to Smith,who purchased the machine without making a search for conditional sale agreements.
-If Smith pays Simon the balance owing in order to retain the snowmobile,Simple is free of the conditional sale agreement.

Question

Quizplus · Accepted Answer

If Smith pays the balance owing, then Simon's interest in the snowmobile is satisfied and the conditional sale agreement with Simple is discharged. Therefore, Simple is no longer bound by the agreement.

Simple Purchased a Snowmobile from Simon Under a Conditional Sale