Draft Common Frame of Reference:IX. — 2:108 Good faith acquisition of security right

Draft Common Frame of Reference

IX. — 2:108 Good faith acquisition of security right

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

(1)

Even where the security provider has no right or authority to dispose of a corporeal asset, the secured creditor nevertheless acquires a security right in it, provided that:

(a)

the asset or a negotiable document to bearer on the asset is in the security provider's possession or, if so required, the asset is registered in an international or national register of ownership as owned by the security provider at the time the security right is to be created; and

(b)

the secured creditor does not know and cannot reasonably be expected to know that the security provider has no right or authority to grant a security right in the asset at the time the security right is to be created.

(2)

For the purposes of paragraph (1)(b), a secured creditor acquiring a security right in an asset that is subject to a retention of ownership device which is registered under Chapter 3 Section 3 against the security provider is regarded as knowing that the latter has no right or authority to grant a security right in the asset.

(3)

Good faith acquisition of a security right is excluded for an asset that was stolen from the owner or the person holding for the owner.

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