Middleton et al. v. Farquharson et al., 2004 BCSC 32

In Maritime Liens, Mortgages & Priorities on (Updated )

In this matter the Defendant sold the vessel “Ocean Tribune” and her C licence to the Plaintiff for $135,000.00 payable $100,000 in cash and the balance by way of vendor financing for one year at 10%. The vendor financing arrangement was documented with a promissory note, a collateral marine mortgage and a registered marine mortgage. The Plaintiff failed to pay …

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