Question: The security element of a secured loan makes it less risky for a lender in comparison to an unsecured loan. The secured loans therefore offer

The security element of a secured loan makes it less risky for a lender in comparison to an unsecured loan. The secured loans therefore offer better terms to borrowers and lower interest rates. What are the relevant legislative provisions in Australia. Provide the section numbers and explain what they mean.

Eg. Under the personal property securities act 2009 section 19 states A security interest is enforceble against a grantor of particular collateral only if the security interest has attached to the collateral.

(Note: At least 10 legislations that apply in Australia)

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