Is the Bill of Sale valid if the seller does not have the title at the time?

[Mobile Sound]

I purchased a Truck from a used car dealer paid and signed the bill of sale. I then brought the truck home and was informed that he did not have the title and had to bring the truck back. When i brought it back he gave me all my money that i had paid. a couple days later he called stating that he had the title and i could get the truck. by then I did not want it because of the hassle that I had to go through.Is the bill of sale still binding in this situation?
very interesting situation