Define Chattel Mortgage

chattel definition: 1. a personal possession: 2. a piece of personal property, including something that can be moved, or rights such as copyright and patents, but not usually including land and buildings: ..

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Judge Easterbrook And this classic: To exclude others from the enjoyment of a chattel is one thing; to prevent any imitation of it, to setup a monopoly in the plan of its structure, gives the author a.

A chattel mortgage involves a finance company lending you the money to purchase a vehicle that will be primarily used for business purposes. set repayments are then made on a monthly basis. You’ll own the vehicle outright, however, the finance company will place a "mortgage" over the vehicle, as security against the loan.

He devoted much of his adult life to defending and expanding the institution of slavery, which – by increasing demand for his human chattel – also increased his personal wealth. When Gouverneur Morris.

We were just having fun. We didn’t know all that history!” As Sears’ lawyer Dean Embry once suggested to Penslar, in cross-examination, “it might be important to have a definition of anti-Semitism.

 · A chattel mortgage is a formal term that refers to a finance agreement that provides funds to purchase an asset and the finance provider accepts that financed asset as the security for the credit.

Chattel mortgage is a legal term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan. The movable property, or chattel , guarantees.

A chattel mortgage, also known as a secured transaction, is a loan that can be obtained from a bank or financial institution using some sort of movable personal property-possessions other than.

It should be noted that a security agreement is not required for attachment if collateral is in the possession of the secured party “pursuant to the debtor’s security agreement,” or the collateral is.

chattel mortgage: Lien on the personal and movable property of a borrower, instead of on land or building. Chattel mortgage is used often in the credit (hire purchase) sale of automobiles or big-ticket household appliances.