‘Complex, arcane and outdated’... Rules for bills of sale
This is, perhaps, not the most encouraging description of a set of legal rules, but is the one recently applied by the Law Commission (the body responsible for law reform proposals) to those concerning bills of sale. So why the description?
A bill of sale is primarily a way for individuals to use their existing goods as security for a loan. The principal law governing them is more than 130 years old and uses the language of that era — ‘chattels’ instead of ‘goods’ — but the concept remains the same: the items being secured must be capable of being transferred by actual delivery. Assets such as shares, cash, money claims and farming stock are not subject to the bills of sale provisions…
Click on the link below to read the rest of the Gateley briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Gateley
News from The Lawyer
Briefings from Gateley
If a name is included on the form and the individual does not have a genuine conflict of interest the decision could be unenforceable.
Tracksuits on, as judge grants review of status that could see bridge organisation reclaim VAT on entry fees.
Analysis from The Lawyer
The Law Society recently published guidance to assist solicitors draw up Shariah-compliant wills, causing outrage in some quarters. Gateley’s Haroon Rashid explains the facts.