A lien generally lies outside the scope of provincial personal property security legislation, as it is often governed by specific statutes or common law rather than the personal property security acts.

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A Lien

Question 58

Multiple Choice

A lien

A) generally lies outside the scope of provincial personal property security legislation.
B) usually occurs as a result of the Bank Act.
C) cannot be enforced unless the debtor previously agreed to that possibility.
D) is necessary only if the debtor has re-acquired possession of the relevant property.
E) almost always arises at common law rather than under statute.

Correct Answer: