S. B. No. 38 By Mr. Gardner
AN ACT TO MAKE UNIFORM THE LAW OF MORTGAGES OF
PERSONAL PROPERTY AND FOR THE PREVENTION OF
FRAUD IN SUCH MORTGAGES AND REPEALING SECTIONS 470, 471, 472, 473, 474, 475, 478, 479, 480, 481, 482, 483,
485, AND 487, TITLE 15, COMPILED LAWS OF UTAH, 1917.
Be it enacted by the Legislature of the State of Utah:
Section 1. In this act, unless the context or subject matter otherwise requires:
"BOOK ACCOUNTS" means six or more debts representing the
price of service or goods supplied by a person in the course of such
person's business, which debts are not represented by promissory
writings of the debtor.
"DEFAULT" means the occurrance of any event on which the
power of the mortgagee to foreclose accrues, whether such event is
the performance or non-performance of an act by a person or the
happening of a contingency, and whether such event is constituted
a default by the terms of the mortgage or by this act.
"DISCHARGE" means and includes both the occurrence of
the act or event which under the terms of the mortgage is to terminate the interest of the mortgagee in the subject matter, and the
defeasance of such interest by release, compromise or other supervening fact.
"DOCUMENT" means any writing, other than an instrument of
mortgage or filed copy thereof, which under the provisions of this
act is eligible for filing.
"DUE FILING" means filing in the form, and at any place or
places, and within the period, required for effectiveness under this
"DUE GIVING" of notice means actual personal communication of notice orally or by writing, or actual delivery or tender of a
signed writing containing notice to the person to be notified, or deposit in the mails of such a signed writing, in an envelope properly