1. Personal property may be mortgaged.
Security bill of sale: written agreement; debtor retains possession of the goods while th creditor becomes the owner. It must be registered at the Central Office of the Supreme Court. It must also contain the consideration paid by the creditor. A bill is void if the amount is less than L 30.
2. Goods may be pawned or pledged. In this case the pledgee (pawnee) acquires possession of them. In the case of a regulated agreement the pawnbroker must supply a pawn receipt ('pawn ticket').
3. Personal property (and in some cases real property) may be subject to liens which arise by implication of law.
a) Possessory or common law liens: the property may be retained until payment. Examples include the innkeeper's lien, the repairer's lien. A possessory lien may also be 'general', that is securing all claims arising during a course of busi- ness - the solicitor has a lien over his clients' property for hess fees, a banker over his client's money and securities. The carry their own sanctions: the right to retain against payment. Generally, the lienor has no right of sale to satisfy his debt.
b) Equitable liens: It may attach by law irrespective of possession: the purchaser's lien attaches before the land is conveyed; the vendor has a similar right in respect of purchase money unpaid. Upon dissolution of a partnership a partner has a lien over the partnership property for payment of partnership debts. Equitable liens (because they do not rest upon retention) may be enforced by sale if their existence is confirmed by a declaration of the court, and some statutes do confer special rights of sale in certain cases. (Seller of goods, Innkeeper, Bailee).