Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 111

Rights and duties to be exercised honestly and in a commercially reasonable manner

  (1)   All rights, duties and obligations that arise under this Chapter   must be exercised or discharged:

  (a)   honestly; and

  (b)   in a commercially reasonable manner.

  (2)   A person does not act dishonestly merely because the person acts with actual knowledge of the interest of some other person.


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