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159 Summary

Summary

You have studied about charge, or sometime called ‘mortgage’ by layman term. The definition of charge extends to other securities such as liens and pledges. It is important to understand the need to register a charge to secure the interest of property belongs to company. A simple note about a charge means it is a security interest in property that is created by contract and it transfers neither title nor possession.

 

Self-test 3.5
Question to self-test 3.5 Suggested answers to self-test 3.5

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