bulk mortgage

Literally, a chattel mortgage on property in bulk, that is, articles, goods, or merchandise in a job lot, not counted, measured, or listed by specific articles, but described merely in the terms of the building or container which holds the property; in legal significance, a chattel mortgage on stock of goods or merchandise in a store, shop, or other place of business. 15 Am J2d Chat Mtg § 76. In many jurisdictions, a chattel mortgage on a stock of goods is void where the mortgagor retains possession with the power to sell the property. 15 Am J2d Chat Mtg § 130.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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