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Encyclopedia Britannica - Main :: CHA-CHR |
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CHATTEL (for derivation see CATTLE) , a term
English
administrator
CHosE
A chattel mortgage, in United States law, is a transfer of personal property as security for a debt or obligation
contract . At common law a chattel mortgage might be made without writing, and was valid as between the parties, and even as against third parties if accompanied by possession in the mortgagee, but in most states of the Union legislation now requires a chattel mortgage to be in writing and duly recorded in order to be valid against third parties. At common law a mortgage can be given only of chattels actually in existence and belonging to the mortgagor, though if he acquired title afterwards the mortgage would be good as between the parties, but not as against subsequent purchasers or creditors. In equity
conveyance
Goods and chattels is a phrase which, in its widest signification, includes any property other than freehold. The two words, however, have come to be synonymous, and the expression, now practically confined to wills, means merely things movable in possession. End of Article: CHATTEL (for derivation see CATTLE) If you wish, you can link directly to this article.
<a href="http://jcsm.org/StudyCenter/Encyclopedia/CHA_CHR/CHATTEL_for_derivation_see_CAT.html"> CHATTEL (for derivation see CATTLE) </a> |
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