South Australian Consolidated Acts South Australian Consolidated Acts12—Implication of certain words
The words "that the grantor will insure" in any bill of sale imply that the
grantor will immediately insure and, so long as any money remains due on the
security of the bill of sale, keep insured in some public insurance office, to
be approved of by the grantee, against loss or damage by fire, in the name of
the grantee, the personal chattels comprised in the bill of sale to the full
amount secured by the bill of sale, and will hand over to the grantee the
policy of insurance and produce to the grantee the receipts for the annual or
other periodical premiums payable on account of insurance, and that all money
payable by virtue of the insurance will be received by the grantee towards
satisfaction of the money due on the security, and that if default is made by
the grantor in effecting or keeping on foot the insurance it will be lawful
for, but not obligatory upon, the grantee (without prejudice to any other
remedy) to insure the personal chattels, and the money paid on account of
insurance will be a charge on the personal chattels.