3 Aug 2006
ASSET TRADERS LTD V FAVAS SPORTSCAR WORLD LTD HC AK CIV 2006-404-004353
- Citation
- openlaw-35bb56ca_abed_4d94_8f2b_fb6305eb19a6.pdf
- Court
- High Court
Applicant failed to establish a reasonably arguable case of a security interest because (1) the alleged oral agreements lacked certainty on essential terms (price and nature/period of the 'opportunity') and therefore no binding contract existed; (2) even if an agreement existed it gave rise only to personal rights not a security interest in the specific vehicles; and (3) the alleged agent lacked authority such that RVB was not bound; therefore registrations should be discharged.