Enforcement—goods and chattels
Enforcement—goods and chattels

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Enforcement—goods and chattels
  • Summary
  • Goods and chattels
  • Useful materials on enforcement
  • Forms of security over goods and chattels
  • Mortgages
  • Charges over goods and chattels
  • Pledge
  • Letters of hypothecation
  • Bills of sale
  • More...


The nature of the asset covered by security often dictates the manner in which it will be realised to produce value for the security holder upon enforcement. In the case of goods and chattels the security holder will have a suite of remedies available to it that are in legal terms similar to those available where security has been taken over land, see Practice Note: Enforcement—security over land.

There are two important exceptions to this general rule. First, foreclosure is not available where a charge or pledge is taken over goods or chattels. Secondly, where the security over goods or chattels is documented and given by an individual it may be a bill of sale and there are statutory restrictions upon the exercise of the remedies available to the security holder. These are contained in the Bills of Sale Act 1878 (BSA 1878) and the Bills of Sale Act (1878) Amendment Act 1882 (BSA(1878)AA 1882).

Although the remedies may be technically similar to those available where security is taken over land the implementation of those remedies in relation to goods and chattels differs in important ways in practice.

Goods and chattels

Goods and chattels are terms often used interchangeably—to describe tangible assets. Goods are usually moveable. Some chattels are not moveable—at least not easily—and may become affixed to land.

In this Practice Note we use the term ‘chattels’ to

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