PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 111 Rights and duties to be exercised honestly and in a commercially reasonable manner

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 111

  (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.