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The conditional bill of sale refers to any assignment or transfer of personal chattels to a person by way of security for the payment of money. The conditional bill of sale creates a security in favour of the grantee of the bill whereby the grantee is given personal right of seizure giving right to a security interest of a possessory nature.
The V5 document records who the Registered Keeper of the vehicle is; it does not establish legal ownership of the vehicle. These documents used to be blue on the front. However, they were changed to red in 2010/11 after approximately 2.2 million blank blue V5 documents were stolen, allowing thieves to clone stolen vehicles much more easily. [2] [3]
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In contract law, a contract of sale, sales contract, sales order, or contract for sale [1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).
The bill to institute five-year plates passed the House Motor Vehicle Committee on March 16, 1977, and the state House on March 29, 1977. Alan Dixon, the Secretary of State, spoke in favor of passage of the bill. The Senate Transportation Committee passed the bill on April 28, 1977, and the full Senate on June 10, 1977.
The VIN identifies the vehicle's country of manufacture, and the company responsible for its production. Vehicles manufactured in the United States have VINs beginning with the numbers 1, 4, and 5 – regardless of where the company is based. If a motor vehicle is manufactured in Canada, the VIN begins with the number 2.
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