Personal Property Security Act

Home Less than Advertised #303

Legally Speaking

By Gerry NeelyB.A., LL.B. Another favourable decision has been given in support of commission trusts for salespersons and cooperating agents, and their priority over the claims of a secured creditor. The secured creditor had registered a general security agreement under the Personal Property Security Act against all assets of the insolvent agency. The creditor was the former principal

Personal Property Security Act – Commission Trust; Contract of Purchase and Sale (Paragraph One) Restrictive Covenant; Third Party Approval of Plans Not a Minor Defect of Title #267

Legally Speaking

By Gerry Neely B.A. LL.B The last column No. 266 ended with the suggestion that licensees with independent contractor contracts containing commission trusts, might wish to file a Financing Statement in the Personal Property Security Registry in Victoria, against the possibility that the Supreme Court of British Columbia may conclude that the commission trust creates