Commentary

66.2 Legal not equitable property

BAILMENT vol 3(1)
| Commentary

66.2 Legal not equitable property

| Commentary

66.2 Legal not equitable property

The seller must reserve legal property to himself. A mere reservation of equitable property will not protect him. Such a reservation of equitable property confers the entire legal and equitable interest in the goods on the buyer, followed by a regrant of the equitable interest back to the seller. That regrant involves the creation of a charge by the buyer over his property and will be void for non-registration under the Companies Act 20061.

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