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

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A Lien

Question 48

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: