Draft Common Frame of Reference:IX. — 3:101 Effectiveness as against third persons

Draft Common Frame of Reference

IX. — 3:101 Effectiveness as against third persons

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)

A security right created according to Chapter 2 has no effects against the following classes of third persons:

(a)

holders of proprietary rights, including effective security rights, in the encumbered asset;

(b)

a creditor who has started to bring execution against those assets and who, under the applicable law, has obtained a position providing protection against a subsequent execution; and

(c)

the insolvency administrator of the security provider,

unless, subject to exceptions, the requirements of this Chapter are met.

(2)

Where a security right that is effective against third persons according to the provisions of this Chapter is extended by virtue of the provisions of this Book without a need for an agreement to this effect to assets other than the assets that were originally encumbered, the extension of the security right is not subject to the requirements of this Chapter.

(3)

A security right that had been acquired by a good faith acquisition in disregard of a retention of ownership device or an earlier security right in the asset to be encumbered is effective against the holder of the retention of ownership device or the holder of the earlier security right even if the requirements of this Chapter are not met. The effectiveness of the security right that had been acquired by a good faith acquisition against other third persons remains subject to the other rules of this Chapter.

Deze functie is alleen te gebruiken als je bent ingelogd.