Commentary

8.4 After-acquired property

BILLS OF SALE vol 4(1)
| Commentary

8.4 After-acquired property

| Commentary

8.4 After-acquired property

In general a security bill cannot include a reference to after-acquired property, because a security bill is void except as against the grantor in respect of any personal chattels of which the grantor was not the true owner at the time of the execution of the bill1. In drafting the security bill, therefore, care should be taken to ensure that there is no reference in the body of the bill to after-acquired chattels, because this will render the whole instrument void, even against the grantor unless one of the following exceptions applies. The exceptions are:

  1. 8.4.1

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