(Refer to the facts of exercise 16.3.) Lee’s charge over the Organicola delivery vehicles was…

(Refer to the facts of exercise 16.3.) Lee’s charge over the
Organicola delivery vehicles was documented but the charge was not registered
on the PPS Register. Organicola subsequently borrows another $10 000 from
Common Bank in return for a charge over Organicola’s delivery vehicles. The
bank’s charge is registered correctly. What are the consequences of the failure
to register Lee’s charges?

Don't use plagiarized sources. Get Your Custom Essay on
(Refer to the facts of exercise 16.3.) Lee’s charge over the Organicola delivery vehicles was…
For as low as $7/Page
Order Essay

Exercise 16.3

Lee decides to lend the $2 million to Organicola rather than
purchase shares in the company. Organicola has offered as security: (1) its
factory and the Torrens System land on which it is located; (2) its two
delivery vehicles; and (3) its stock of inventory. Advise Lee about the nature
of his interest in each of these securities and how they can best be protected.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

*

*