Title 46, Chapter 8, Section 270
( 46-8-270)
Any person may make a contract in writing with any company owning or
operating a railroad in this state to furnish the company with
rolling stock or other equipment, deliverable either immediately or
subsequently at stipulated periods. The contract may provide that
the purchase money for the property, in whole or in part, is to be
paid after delivery. The contract may also include an agreement that
title to the property shall not pass to or vest in the vendee until
the purchase money for the same has been fully paid, notwithstanding
the delivery of such property to and the possession of the same by
the vendee, but that, until the purchase money has been fully paid,
the title to the property shall remain in the vendor and his
assigns. |