The purpose of _______________________ is to provide ___________________ with ______________________.
A) a Chattel Mortgage; the mortgagee; possession of the goods; but not title
B) Personal Property Legislation; third parties; notice of prior interests in goods
C) a debenture; debtors' flexibility to sell assets; a fixed charge crystallizing on default
D) a lien; any subcontractor, rights directly against an owner of goods or land
E) All responses are correct except a chattel mortgage.

Question

Quizplus · Accepted Answer

The correct choices are B, C, and D. Personal Property Legislation provides third parties with notice of prior interests in goods. A debenture offers debtors the flexibility to sell assets, with a fixed charge crystallizing on default. A lien gives subcontractors rights directly against an owner of goods or land. A chattel mortgage indeed provides the mortgagee with possession but not title, however, the question's format implies looking for broader legal mechanisms and their purposes, making E the most comprehensive answer.

The Purpose of _______________________ Is to Provide ___________________ with ______________________

The Purpose of _____________ Is to Provide _ with ______________