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Difference between revisions of "Conditional Sales Contracts and Security Agreements (11:VI)"
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Conditional Sales Contracts and Security Agreements (11:VI) (view source)
Revision as of 05:23, 13 August 2016
, 05:23, 13 August 2016→2. Action by the Creditor
Desy Wahyuni (talk | contribs) (Created page with "{{LSLAP Manual TOC|expanded = consumer}} The ''Personal Property Security Act'', RSBC 1996, c 359 [''PPSA''] governs conditional sales agreements and security contracts. It e...") |
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=== 2. Action by the Creditor === | === 2. Action by the Creditor === | ||
A creditor can sue the debtor for breach of contract and seek repayment of the monies owed. Unless the security interest has been taken in consumer goods, the secured party can seize '''and''' sue for any deficiency. When consumer goods form all or merely a portion of the collateral, the secured party must elect to '''seize or sue''', subject to s | A creditor can sue the debtor for breach of contract and seek repayment of the monies owed. Unless the security interest has been taken in consumer goods, the secured party can seize '''and''' sue for any deficiency. When consumer goods form all or merely a portion of the collateral, the secured party must elect to '''seize or sue''', subject to s 58(3). | ||
== B. Restrictions on the Creditor’s Right to Dispose == | == B. Restrictions on the Creditor’s Right to Dispose == | ||