Bill 24 (Legislature 14, Session 1)

L14 S1 5914

Alberta — Bills

No. 24 1st Session, 14th Legislature, Alberta 8 Elizabeth II BILL 24 A Bill to amend The Bills of Sale Act HON. MR. MANNING Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty, Edmonton, Alberta, 1960

Explanatory Note General. 'The Bills of Sale Act (R.S.A. 19,55, c. 23) is amended to permit one affidavit of bona fides for use in regi'sterin~ Bills of Sale under this Act. The present situation under sectIons 8, 9 and 10 results in the use of three types, or one type being modified for three different circumstances. Sections 8, 9 and 10 presently read: "S. (1) Where a bill of sale is given as security (

a) for repayment of any advances to be made by the grantee under an agreement therefor, (

b) against loss or damage by reason of the endorsement of a bill of exchange or promissory note, (

c) against loss or damage by reason of any other liability incurred by the grantee for t1).e grantor, or (

d) against loss or damage by reason of any liability to be incurred under an agreement by the grantee for the grantor, the bill of sale shall set forth clearly by recital or otherwise, and shall, when presented for registration, be accommpanied by an affi davit of the grantee, or one of several grantees, or his or their agent, stating that the bill of sale truly sets forth, (

e) tbe terms or substance of the agreement entered into between the parties in respect of the advances, (

f) a copy of the bill of exchange or promissory note endorsed and of the endorsement, (

g) the nature and extent of such other liability incurred by the grantee for the grantor, or (

h) the terms or substance of the agreement in respect of the liability to be incurred by the grantee for t1).e grantor, as the case may be, and in all cases the affidavit shall state that the bill of sale truly sets forth the extent or amount of the liabilty in curred or to be incurred and to be secured by the bill of sale.

(3) The nffidavit shall also state that the bill of sale was executed in good faith and for tne purpose of securing the grantee (

a) repayment of the advances made by him, (

b) ngainst loss or damage by reason of the endorsement, (

c) against loss or damage by reason of the liability incurred by the grantee for the grantor, or (

d) against loss or damage by reason of the liability to be incurred by the grantee for the grantor under the agreement therefor, as the case may be, and not for the mere purpose of protecting the cl}attels therein mentioned against the creditors of the grantor nor for the purpose of preventing the cerditors from recovering any claims that they have against the grantor. 9.

(1) Where a bill of sale, other than a bill of sale within the scope of

section 8, is given to secure the payment of (

a) an ascertained amount due or accruing due from the grantor to the grantee, or (

b) a present advance being made by the grantee to the grantor, it shall, when presented for registration, be accompanied by an affi. davit of the grantee, or one of several grantees, or his or their agent.

(2) The affidavit shall state (

a) that the amount set forth in the bill of sale as being the consideration therefor (

i) is justly due or accruing due from the grantor to the grantee, or (ii) is a present advance heing made by the grantee to the grantor, as the case may be, and (

b) that the bill of sale was executed (1) in good faith and for the purpose of securing to the grantee the payment of such amount, and (ii) not for the mere purpose of protecting the chattels therein mentioned against the creditors of the grantor, nor for the purpose of preventing the creditors from recovering any claims that they have against the grantor. 10. Where a bill of sale other than a bill of sale within the scope of

section 8 or

section 9 is presented for registration it shall be accompanied by an affidavit of the grantee, or one of several grantees, or his or their agent, stating that the bill of sale was executed (

a) in good faith and for good consideration, as set forth in the bill of sale, and (

b) not for the mere purpose of protecting the chattels therein mentioned against the creditors of the grantor, nor for the purpose of preventing the creditors from recovering any claims that they have against the grantor."

BILL No. 24 of 1960

An Act to amend The Bills of Sale Act (Assented to , 1960) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Bills of Sale Act, being

chapter 23 of the Revised Statutes, is hereby amended. 2 .. Sections 8, 9 and 10 are repealed and the following are substituted therefor: 8. Where a bill of sale is given (

a) to secure to the grantee repayment of advances to be made by him under an agreement therefor, or (

b) to secure the grantee against loss or damage by reason of (i),' the endorsemen t of a bill of exchange or promissory note, (ii) any other liability incurred by the grantee for the grantor, or (iii) any liability to be incurred under an agree ment by the grantee for the grantor, the bill of sale shall set forth clearly by recital or otherwise (

c) the terms or substance of the agreement entered into between the parties in respect of the advances, (

d) a copy of the bill of exchange or promissory note endorsed and of the endorsement, (

e) the nature and extent of such other liability in curred by the grantee for the grantor, or (

f) the terms or substance of the agreement in respect of the liability to be incurred by the grantee for the grantor. 9. Where a bill of sale is presented for registration it shall be accompanied by an affidavit of the grantee, or one of several grantees, or his or their agent, stating that the bill of sale was executed (

a) in good faith and for good consideration as set forth in the bill of sale or for the purpose set out in the bill of sale, and

2 (

b) not for the mere purpose of protecting the chattels therein mentioned against the creditors of the grantor, nor for the purpose of preventing the creditors from recovering any claims that they have against the grantor. 3. This Act comes into force on the day upon which it is assented to.

No. 24 FIRST SESSION FOURTEENTH LEGISLATURE 8 ELIZABETH II 1960 BILL

An Act to amend The Bills of Sale Act Received and read the First time ......................................... . Second time ...................................... .. Third time .......... . HON. MR. MANNING Title: 1960 (14th, 1st) Bill 24,

An Act to amend The Bills of Sale Act

Document details

Collection	Alberta — Bills
Citation	L14 S1 5914
Type	bill
Volume / chapter	L14 S1 5914
Language	en
Format	json
Source	PROVINCIAL
Identifier	a8ecdae5a6aaceee6067da5d6d8e50b5705a88d0

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