Permachart - Marketing Reference Guide: Secured Transaction, Chattel Mortgage, Security Interest

382 views2 pages
2 Jun 2015
Department
Course
Professor

Document Summary

Formal requirements: debtor"s signature (no formal requirements regarding form, witnesses, etc. , description of collateral, description of real estate (where required, creation of, or provision for, a security interest. Note: reference to proceeds is no longer required. Filing officers: mark financing and continuation statements with file number and time of filing, provide schedules of filing fees (other duties) Value for rights: acquired in exchange for binding commitment to extend credit, as security for, or satisfaction of, pre-existing claim, by accepting delivery pursuant to previous purchase contract, in return for consideration to support a simple contract. Trade names are the property of their respective owners. Mindsource technologies inc. and its partners disclaim all liability for any damage, however caused, which may result from the application or misapplication of this information. Printed in canada. p e r m a c h a r t s c o m permacharts. 10 days before proceedings: unpaid seller has limited right of reclamation.