| Commentary

10 Powers of seizure

| Commentary

10 Powers of seizure

Personal chattels assigned under a bill of sale are liable to be seized or taken possession of by the grantee upon only the following statutory grounds:

  1. 10.1

        if the grantor makes default in payment of the sum or sums secured by the bill at the time provided in the bill for payment, or in the performance of any covenant or agreement contained in the bill and necessary for the maintenance of the security1,

  2. 10.2

        if the grantor becomes a bankrupt2 or suffers the goods or any of them to be distrained, or taken control of using

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