The Installation of a GPS (Global Positioning System) in a Boats

question 42

Essay

The installation of a GPS (Global Positioning System) in a boats adds value to the boat and becomes part of it. This addition to personal property is called _________________ .​

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Definitions:

Security

Measures or instruments (financial or physical) aimed at protecting assets, investments, or territories against loss, damage, or theft.

Provincial Personal Property

Assets and items of personal property as defined and regulated by provincial law in Canada.

Security Interest

Security interest is a legal claim on assets which are offered by a borrower to a lender as collateral for a loan or obligation.

Security Registration Legislation

Laws and regulations tasked with governing the registration, offering, and sale of securities to protect investors and prevent fraud.