In Which of the Following Circumstances Would a Purchaser Be

question 16

Multiple Choice

In which of the following circumstances would a purchaser be not bound by the registered charge?

• A) The charge is registered against Lizzy Jones even though this person's real name is Elizabeth Jones. The search is made against 'Elizabeth Jones'. This does not reveal the charge.
• B) As before, the search is made against 'Elizabeth Jones' and the prospective purchaser provides the wrong postcode when making the search.
• C) The charge is registered against Elizabeth Jones, but the purchaser only knows her as Lizzy Jones so makes the search against Lizzy Jones using the correct postcode.
• D) As before, the charge is registered against Elizabeth Jones and this reveals the charge, but the purchaser does not read the result of the search.

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Definitions:

Ordinary Shares

Equity securities that represent ownership in a company, giving holders voting rights and a share in the company's profits through dividends.

Cumulative

Referring to a total that increases by adding successive amounts.