6 Effect of fixed charge
Agricultural Credits Act 1928 (1928 c 43) | Legislation

6  Effect of fixed charge

(1)     A fixed charge shall, so long as the charge continues in force, confer on the bank the following rights and impose upon the bank the following obligations, that is to say:—

(a)     a right, upon the happening of any event specified in the charge as being an event authorising the seizure of property subject to the charge, to take possession of any property so subject;

(b)     where possession of any property has been so taken, a right, after an interval of five clear days or such less time as may be allowed by the charge, to sell the property either by auction or, if the charge so provides, by private treaty, and either for a lump sum payment or payment by instalments;

(c)     an obligation, in the event of such power of sale being

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have not been living at the same address in the UK since 2017 but are in a genuine relationship. What effect will this have on their extension application?Immigration Rules, Part 8, para 319C sets out

LEXISNEXIS

Scotland: the Accountant in Bankruptcy

Scotland: the Accountant in BankruptcyThe office of the Accountant in Bankruptcy (AiB) was created by section 156 of the Bankruptcy (Scotland) Act 1856 . Previously, the functions of the AiB were limited but since 1993, with the enactment of the Bankruptcy (Scotland) Act 1993 (B(S)A 1993), the role

LEXISNEXIS

Voluntary manslaughter

Voluntary manslaughterVoluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in