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Difference between revisions of "Governing Legislation and Resources for Consumer Protection (11:II)"
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Governing Legislation and Resources for Consumer Protection (11:II) (view source)
Revision as of 19:46, 3 October 2022
, 19:46, 3 October 2022→A. Legislation
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:The PPSA governs all security agreements, as well as chattel mortgages, conditional sales, floating charges, pledges, trust indentures, trust receipts, assignments, consignments, leases, trusts, and transfers of chattel paper that secure payment or performance of an obligation. A security interest is an interest in goods or other property that secures payment or performance of an obligation for a lender. It is used to determine who retained title; however, recent cases abolished title as the most important factor. See also [[Conditional Sales Contracts and Security Agreements (11:VI)|Section 11:VI Conditional Sales Contracts and Security Agreements]] | :The PPSA governs all security agreements, as well as chattel mortgages, conditional sales, floating charges, pledges, trust indentures, trust receipts, assignments, consignments, leases, trusts, and transfers of chattel paper that secure payment or performance of an obligation. A security interest is an interest in goods or other property that secures payment or performance of an obligation for a lender. It is used to determine who retained title; however, recent cases abolished title as the most important factor. See also [[Conditional Sales Contracts and Security Agreements (11:VI)|Section 11:VI Conditional Sales Contracts and Security Agreements]] | ||
* ''[https://laws-lois.justice.gc.ca/eng/acts/b-4/ | * ''[https://laws-lois.justice.gc.ca/eng/acts/b-4/index.html]'', RSC 1985, c. B-4, ss. 188-192 [''BEA'']. | ||
:The ''BEA'' states that a promissory note is a written promise, like an “I owe you”, to pay a specified sum of money at a fixed time or on-demand. These are commonly used in conjunction with executory contracts, where one party has fulfilled their material obligations and the other party still has some or all outstanding. | :The ''BEA'' states that a promissory note is a written promise, like an “I owe you”, to pay a specified sum of money at a fixed time or on-demand. These are commonly used in conjunction with executory contracts, where one party has fulfilled their material obligations and the other party still has some or all outstanding. | ||