Does a bank have a right of lien against property left in its safekeeping by one of its borrowers?
In what way could a consignment contract be an indirect type of credit? Use an example to explain.
Why do you think that provincial legislators have enacted personal property security legislation?
Identify in relation to each of the statements below what security device is being described.
(1)The lender takes possession of the assets or of documents evidencing the borrower's ownership.
(2)The borrower retains possession of the property and the lender's security interest is in the title to specific goods or after acquired property.
(3)The seller retains title until the purchase price is paid but in the meantime the buyer has possession of the subject matter of the sale.
(4)The manufacturer or wholesale distributor retains title to the merchandise while the retailer obtains possession of the merchandise.