chattel
4.A pledge occurs where there is a transfer of the possession of a chattel (not ownership).
5.The basic reason is that the bill has the dual nature of chattel and document.
6.The creation or alienation of the real right of a chattel shall be delivered in accordance with law.
7.In our country, the laws such as Assurance Law and Property Law make the correlative stipulation to the chattel mortgage, but the chattel mortgage disrupts inherent rigorous system of the reality of laws, male showed the method and male shows in the potency appear the barrier overstepping with difficulty, also the chattel mortgage potency stipulated disobeys the legal principle.
8.“Delivery” with respect to instruments, documents of title, chattel paper or certificated secunties means voluntary transfer of possession.


