as proceeds of sale of transferred 12. (1) In the case of a gift, conveyance, assignment Recovery of or transfer of any property real or personal, which in law money received is invalid against creditors, if the person to whom the gift, property conveyance, assignment or transfer was made has sold invalidly or disposed of, realized or collected the property or any part thereof, the money or other proceeds or the amount thereof, whether further disposed of or not, may be seized or recovered in an action by a person who would be entitled to seize and recover the property if it had remained in the possession or control of the debtor or of the person to whom the gift, conveyance, assignment, transfer, delivery or payment was made, and such right to seize and recover shall exist in favour of all creditors of such debtor. proceeds (2) Where the proceeds are of a character to be seizable seizure of under execution they may be seized under the execution under execution of any creditor and shall be distributable among creditors under The Creditors' Relief Act. creditor to (3) Whether the proceeds realized as aforesaid are or Action by are not of a character to be seized under execution, an recover action may be brought therefor or to recover the amount proceeds thereof by a creditor (whether a judgment creditor or not) on behalf of himself and all other creditors, or such other proceedings may be taken as may be necessary to render the said proceeds or the amount thereof available for the general benefit of the creditors. of section (4) This section shall not apply as against innocent Application purchasers of any such property. [1922, c. 48, s. 12.] Application. conflict with 13. This Act shall be read and construed subject to the Possible provisions of The Bankruptcy Act of the Dominion of Bankruptcy Act Canada. [1922, c. 4, s. 21(b).] CHAPTER 150. An Act respecting Hire Receipts and Conditional HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: Short Title. Short title Conditional sales of goods Bailments not con templating the passing of property Registration 1. This Act may be cited as "The Conditional Sales Act." Registration of Conditional Sales. 2. (1) Whenever on a sale or bailment of goods of the value of fifteen dollars or over it is agreed, provided or conditioned that the right of property or right of possession in whole or in part shall remain in the seller or bailor notwithstanding that the actual possession of the goods passes to the buyer or bailee, the seller or bailor shall not be permitted to set up any such right of property or right of possession as against any purchaser or mortgagee of or from the buyer or bailee of such goods in good faith for valuable consideration or as against judgments, executions or attachments against the buyer or bailee unless such sale or bailment with such agreement, proviso or condition is in writing signed by the buyer or bailee or the agent of such buyer or bailee and registered as hereinafter provided, which writing shall contain such a description of the goods the subject of the sale or bailment that the same may be readily and easily known and distinguished. (2) Nothing in this section shall apply to any bailment where it is not intended that the property in the goods shall eventually pass to the bailee on payment of purchase money in whole or in part or on the performance of some condition by the bailee. [C.O. 1898, c. 44, s. 1; 1908, c. 20, s. 2(1).] 3. (1) Such writing or a true copy thereof shall be registered in the office of the registration clerk for chattel mortgages in the registration district within which the buyer or bailee resides within thirty days from the time of the actual delivery of such goods to the bailee or buyer; and in the event of such goods being delivered in a registration district other than that in which the buyer or bailee resides at the time of such delivery such writing or a true copy thereof shall also be registered within thirty days from the time of the actual delivery of such goods in the registration district in which such goods are delivered. bona fides (2) Every such agreement or a true copy thereof shall Affidavits of upon every such registration be accompanied by an affidavit of the seller or bailor or his agent stating that the written agreement annexed thereto truly sets forth the agreement entered into between the parties and that the said agreement was entered into bona fide and not for the purpose of protecting the goods mentioned therein against the creditors of the buyer or bailee. of statement after two years 4.-(1) The seller or bailor under any such agreement, Registration proviso, or condition as is mentioned in section 2 of this of amount due Act shall not be permitted to set up any such right of property or right of possession as against any such purchaser or mortgagee as is in section 1 of this Act mentioned or as against judgments, executions or attachments against the buyer or bailee, after the expiration of two years from the filing of such writing unless within thirty days next preceding the expiration of the said two years a statement of the amount still due for principal and interest on said sale or bailment and of all payments made on account thereof is registered in the office of the registration clerk of the registration district where the property is then situate, with an affidavit of the seller or bailor or of one of several sellers or bailors or of the assignee or of one of several assignees or of their assigns or of the agent of the seller or bailor or sellers or bailors or of the assignee or one of several assignees or of their assigns, duly authorized for that purpose, as the case may be, stating that such statements are true and that the said sale or bailment writing was not kept on foot for any fraudulent purpose or to defeat, delay or prejudice the creditors of the buyer or bailee, which statement and affidavit shall be regarded as one instrument. re-registration (2) Another statement in accordance with the provisions Annual of the last preceding subsection duly verified as required of statement thereby shall be filed in the office of the registration clerk of the district where the property is then situate within thirty days next preceding the expiration of the term of one year from the day of the filing of the statement required by the last preceding subsection, and so on from year to year, that is to say, another statement as aforesaid duly verified shall be filed within thirty days next preceding the expiration of one year from the day of filing of the former statement, otherwise such seller or bailor shall not be permitted to set up any such right of property or possession as against any such purchaser or mortgagee or any such judgments, executions, or attachments. [1908, c. 20, s. 2(2); 1916, c. 3, s. 8; 1917, c. 3, s. 32(1); 1919, c. 4, s. 52.] 5. (1) If such goods are after the delivery thereof Further removed by the buyer or bailee into another registration on removal registration into a new district Exemption in case of marked goods 'Conditional sales of rolling stock to railway companies Accidental omission to register district a further registration shall be made in the registration district into which such goods are removed within sixty days after such removal. (2) The seller or bailor of goods of the value of fifteen dollars or over, under a conditional sale or bailment, may, before sale and delivery of possession, print, stamp, paint, or otherwise permanently mark on the said goods, so as to be plainly visible, words setting out that the said goods are the property of the said seller or bailor until paid for, and the name, address and occupation of the said seller or bailor, and in such case shall notwithstanding the removal of such goods to another registration district, have the same rights therein and thereto, as if the writing evidencing such sale or bailment had been further registered in such registration district. (3) Any person removing or defacing, so as to be illegible, any such mark on any goods, before payment or tender of the amount due in respect of such goods or performance of the conditions of the bailment, shall be liable on summary conviction to a fine of not more than five hundred dollars and costs. [1920, c. 4, s. 8.] 6.—(1) Nothing in the previous sections shall apply in cases of conditional sales or bailments of rolling stock or equipment for use on railways to railway companies if the contract evidencing the conditional sale or bailment or a copy thereof certified under the hand of the president or vice-president and secretary of the company and verified by an affidavit of the secretary thereto attached or endorsed thereon, and having the corporate seal attached thereto, is filed with the Registrar of Joint Stock Companies within thirty days from the execution thereof. (2) A memorandum of satisfaction or of partial discharge of the indebtedness under any such contract with a railway company may be registered with the said Registrar. [C.O., 1898, c. 44, s. 1; 1908, c. 20, s. 2.] 7. Subject to the rights of third persons accrued by reason of such omissions as are hereinafter mentioned, a judge of the District Court of the district within which any such writing as is mentioned in section 2 of this Act or such statement as is mentioned in section 3 of this Act is or should be registered, on being satisfied the omission to register within the time prescribed by this Act or any omission or misstatement in such writing or statement was accidental or due to inadvertence or impossibility in fact, may in his discretion order such omission or misstatement to be rectified in the register or may extend the time for such registration on such terms and conditions, if any, as to security, notice by advertisement or otherwise, or as to any other matter as he thinks fit to direct. [1917, c. 3, s. 32(2).] Chattels Affixed to Realty. 8. If any goods or chattels subject to the provisions Chattels of this Act are affixed to any realty, such goods and chattels fixed to. shall notwithstanding remain so subject and shall not be realty, but the owner of such realty, or any purchaser of, or any mortgagee or other incumbrancer on, such realty, shall have the right as against manufacturer, bailor or seller thereof, or any person claiming through or under them, to retain the said goods and chattels upon payment of the amount due and owing thereon. [1917, c. 3, s. 32(3).] Memorandum of Satisfaction. dum of 9.—(1) The seller or bailor shall upon payment or tender Memoranof the amount due in respect of such goods or performance satisfaction. of the conditions of the sale or bailment sign and deliver of seller to any person demanding it a memorandum in writing stating that his claims against the goods are satisfied and such memorandum shall thereupon operate to divest the seller or bailor of any further interest or right of possession if any in the said goods. (2) Any such memorandum if accompanied by an affidavit of execution of an attesting witness may be registered. [C.O. 1898, c. 44, s. 6.] Retaking and Sale. 10. In case the seller or bailor retakes possession of the Retaking goods he shall retain the same in his possession for at least possession twenty days and the buyer, bailee or any one claiming by or through or under the buyer or bailee may redeem the same upon payment of the amount actually due thereon and the actual necessary expenses of taking possession. [C.O. 1898, c. 44, s. 7.] sale 11. (1) The goods or chattels shall not be sold without Notice of five days' notice of the intended sale being first given to the buyer or bailee or his successor in interest. (2) The notice may be served personally or may in the absence of such buyer, bailee or his successor in interest. be left at his residence or last place of abode or may be sent by registered letter deposited in the post office at least seven days before the time when the said five days will elapse, addressed to the buyer or bailee or his successor in interest at his last known post office address in Canada. (3) The said five days or seven days may be part of the twenty days mentioned in section 7 hereof. [C.O. 1898, c. 44, s. 8.] |