A person who purchases any personal property on credit and thereafter, before paying for it, sells, hypothecates, pledges, or disposes of it with intent to defraud the seller or vendor commits a class 2 misdemeanor.
Source: L. 71: R&RE, p. 440, § 1. C.R.S. 1963: § 40-5-207.
ANNOTATION
Purpose of section. This section was not intended to have any effect whatever in the determination of the validity or invalidity of any contracts of sale made by the vendor. In this respect, it extended no greater protection to the creditor than the law gave him before this section was enacted. It is simply a penal statute, intended to punish the man guilty under its provisions. Nicholls v. McShane, 16 Colo. App. 165, 64 P. 375 (1901) (decided under former section).