Commentary

4 Use of absolute bills

BILLS OF SALE vol 4(1)
| Commentary

4 Use of absolute bills

| Commentary

B: ABSOLUTE BILLS OF SALE

4 Use of absolute bills

An absolute bill of sale is a bill of sale given otherwise than by way of security for the payment of money1. Most absolute bills are by way of outright transfer not securing any obligation. Very few absolute bills are registered, as in most cases the transferee takes immediate possession, so that registration is unnecessary. An absolute bill of sale is used only for transactions where it is felt necessary or convenient that the transferor should retain possession for a period, or for transactions where the delivery of possession may otherwise

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