PPSA FULL

Question 1

ppsa full

Answer 1

1. SI under s17
   - interest in pp
   - that secures paymnet/perfomance
2. attcahment under s40(1)
   - d has rights in - poss, cond sale agt
   - value given - finicaing buisness
3. protection againt 3rd parties 36
   - sale agreement with adequate desc of the property
4. is there perfection 41
   - finicing statemnet
   - with no errors
   - e.g. 149
   - names debtor
   - serial # goods (car, plane)
   - s151
   - need to prove seriosuly mislead
5. EXCEPTIONS
   * 44- si not over cg that are not replacements
   * 45 - take free if authorised explicitly or implied
   * 53- sold in OCOB - protect consumer
   * 54- under 2000 at tiime of attach takes free
   * 55 - bought cg or equipt w/o know SI, mistake serial #, takes free

Question 2

EXCEPTIONS

Answer 2

5. EXCEPTIONS
   44- si not over cg that are not replacements
   45 - take free if authorised explicitly or implied
   53- sold in OCOB - protect consumer
   54- under 2000 at tiime of attach takes free
   55 - bought cg or equipt w/o know SI, mistake serial #, takes free