Luxury Events, a wedding reception venue, needed a car as a company car. They liked the...
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Luxury Events, a wedding reception venue, needed a car as a company car. They liked the look of a second hand Mercedes for sale at Spectacular Motors. In fact, Sydney Mercedes had a security interest registered over the car however Spectacular Motors had not checked the register. Luxury Events purchased the secondhand Mercedes for $45,000. What is the effect of this for Luxury Events purchasing the car from Spectacular Motors? Luxury Events does not take the car free of the interest because s 46 only applies where the seller granted the security interest. Luxury Events takes the car free of the interest pursuant to s 44 of the PPSA. Luxury Events takes the car free of the interest pursuant to s 48 of the PPSA Luxury Events takes the car free of the interest pursuant to s 47 of the PPSA. Luxury Events, a wedding reception venue, needed a car as a company car. They liked the look of a second hand Mercedes for sale at Spectacular Motors. In fact, Sydney Mercedes had a security interest registered over the car however Spectacular Motors had not checked the register. Luxury Events purchased the secondhand Mercedes for $45,000. What is the effect of this for Luxury Events purchasing the car from Spectacular Motors? Luxury Events does not take the car free of the interest because s 46 only applies where the seller granted the security interest. Luxury Events takes the car free of the interest pursuant to s 44 of the PPSA. Luxury Events takes the car free of the interest pursuant to s 48 of the PPSA Luxury Events takes the car free of the interest pursuant to s 47 of the PPSA.
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