Management and Organizational Studies 2275A/B Chapter Notes - Chapter 15: Pawnbroker, Security Interest, Operating Lease

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Susan Toth

Document Summary

Fixtures: a thing attached to land or building to another xture attached to the land: mortgages: the title of property is held by the moneylender as a security. Collateral: goods or property used to scare debt. Creditor still has possession of title as security until nal payment is made: bill of sale: a written agreement that conveys title from seller to buyer, the sale of goods act does not apply to chattel mortgages. !1: book accounts: accounts receivable that can be used as security for a loan. If a person borrowing funds puts their car as collateral, it only becomes collateral once money is given to them. A single form is used now, it must include the name, address, security used, and the date and time or registration: less common, the creditor could take possession of the collateral. Promissory notes and shares are often secured by this approach.