Statutes of Alberta

CHAPTER 27.

An Act to amend The Bills of Sale Act.

(Assented to April 2, 1927.)

HIS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta,

enacts as follows:

1. This Act may be cited as "The Bills of Sale Act Short title Amendment Act, 1927."

amended

2. The Bills of Sale Act, being chapter 151 of the Revised Section 6 Statutes of Alberta, 1922, is amended as to section 6 thereof, by adding as subsection (4) thereof the following:

document by

"(4) Where a document has been executed by a corpora- Execution of tion under the provisions of this Act, no affidavit of execu- corporation tion shall be required to accompany such document for the purpose of registration."

3. Section 10 of the said Act is hereby struck out.

Section 10

repealed

amended

4. Section 14 of the said Act is amended by striking out Section 14 subsection (2) thereof.

5. Section 16 of the said Act is amended

(a) as to subsection (1) by striking out the words in brackets "(hereinafter collectively called 'necessaries')" and inserting in lieu thereof the words "(which commodities and borrowings are hereinafter collectively called 'necessaries')";

(b) by adding as subsection (7a) immediately after subsection (7), the following:

Section 16 amended

necessaries

"(7a) Where it is arranged between the mortgagor and Security for mortgagee, that necessaries are to be supplied from time to time, then security may be given at the time of such arrangement for any sum of money, which is otherwise permissible under the provisions of this Act, notwithstanding that some or all of the necessaries are to be supplied in future:

"Provided, however, that no such security shall be valid for a greater sum of money than the price of the necessaries actually supplied or the money actually borrowed within one year from the date of its execution. Any such security shall be subject to the provisions of section 8 of this Act, as if it were an agreement in writing for future advances within the meaning of that section."

New

section 22

Affidavit by employee of corporation

Section 30 amended

Coming into force of Act

6. Section 22 of the said Act is hereby struck out and the following substituted therefor:

"22. If any mortgagee, bargainee or assignee be a corporation, the affidavit of bona fides required by sections 6, 8, 9 and 10, and the affidavit required by section 18 of this Act, may be made by any employee of the corporation, and such affidavits shall state that the deponent is aware of the circumstances, has a personal knowledge of the facts deponed to, and is duly authorized to make such affidavits."

7. Section 30 of the said Act is amended—

(a) by inserting after the word "registered" the words "and of all renewals thereof";

(b) by adding as subsection (2) thereof, the following: "(2) All subsequent renewals of any such mortgage shall be filed in the office of the said registration clerk, and the period of two years mentioned in section 18, and of one year mentioned in Section 19 shall be reckoned from the date of the filing of such certified copy."

8. This Act shall come into force on the day upon which it is assented to.

CHAPTER 28.

An Act respecting the Assignment of Book Debts.

(Assented to April 2, 1927.)

HIS MAJESTY, by and with the advice and consent of

the Legislative Assembly of the Province of Alberta, enacts as follows:

SHORT TITLE

1. This Act may be cited as "The Assignment of Book Short title Debts Act, 1927."

INTERPRETATION

Interpretation

2. In this Act unless the context otherwise requires(a) "Assignment" shall include, save as herein provided, Assignment every assignment by way of security and every mortgage or other charge upon book debts;

(b) "Book debts" shall mean all such debts accruing in Book Debts the ordinary course of trade or business as are usually entered in trade or business books of account, whether such books are kept or not, and whether such debts are accidentally or intentionally omitted from such books or not, but without affecting the generality of the preceding words, shall not include money payable under mortgages of or agreements for the sale of land except in so far as such money otherwise constitutes a book debt; nor to moneys payable under instruments required to be registered under the provisions of The Conditional Sales Act or The Bills of Sale Act;

the hands of the sheriff, and trustees in bankruptcy.

3.-(1) Every assignment, save as herein provided, Assignment made by any person engaged in any trade or business, of his when void existing or future book debts or any class or part thereof, shall be absolutely null and void as against the creditors of the assignor and as against subsequent purchasers or mortgagees of such debts or any part thereof in good faith for valuable consideration, unless such assignment is—

(a) in writing;

(b) accompanied by an affidavit of the attesting witness thereto of the due execution thereof, giving the date

Certain

assignments not affected

Registration

of the execution, and a further affidavit of the assignee or one of the several assignees or the agent of the assignee or assignees, that the assignment is bona fide and for good consideration, and not for the purpose of holding or enabling the assignee or assignees to hold the said debts against the creditors of the assignor;

(2) An affidavit of bona fides made by an agent of the assignee or assignees shall state that the deponent is acquainted with the circumstances connected with the assignment and has a personal knowledge of the facts deposed to.

4. Nothing in section 3 shall apply to assignments of book debts due or accruing due at the date of the assignment from specified debtors, or of debts due or accruing due under specified contracts, or any assignment of book debts included in a transfer of a business made bona fide and for value, or in any authorized assignment under The Bankruptcy Act.

5. (1) The assignment shall be registered in the office of assignment of the clerk of the registration district in which the assignor resides, or where the assignor is a corporation, in the office of the clerk of the registration district of Edmonton.

Assignments, etc., become invalid after two years

unless renewed

(2) Such registration clerks shall file all instruments presented to them respectively for that purpose and shall indorse thereon the time of receiving the same in their respective offices, and the same shall be kept there for the inspection of the public subject to payment of the proper fees.

(3) Every registration clerk shall number each assignment filed in his office and shall enter in alphabetical order in a book, the names of all the parties to such assignment, with the number endorsed thereon, opposite to each name; and such entry shall be repeated alphabetically under the name of every party thereto.

(4) The assignment shall operate and take effect upon, from and after the date of registration.

6. Every assignment by way of security and every mortgage or other charge upon book debts registered under this Act shall cease to be valid as against the creditors and as against subsequent purchasers or mortgagees in good faith for valuable consideration, after the expiration of two years from the registration unless within thirty days next preceding the expiration of the said term of two years an affidavit of the assignee, mortgagee or chargee, or his agent, is filed in the office of the registration clerk of the district in which the assignment, mortgage or charge was filed, stating that such assignment, mortgage or charge is still

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