A: The law uses the word „may” to give the familiar the right to revoke the trust and take possession of the goods. Therefore, the agent has the discretion to make use of this right at any time or to take other measures, such as a third party application or a separate civil action that he considers to be the best way to protect his right to be late or in a situation of not being able, at any time, the agent complies with one of the conditions of the trust agreement. (South City Homes, Inc. v. BA Finance Corporation, G.R. No. 135462, December 7, 2001) In the case of TR, the buyer must keep the goods safely and separate from other stocks. Indeed, the buyer acts as a trustee for the bank for the storage and sale of the goods. Even if the title or ownership of the business remains with the bank, the buyer has ownership. The buyer can do everything with the goods or assets as long as he (or she) does not violate the contractual conditions with the bank. Although the bank has an interest in securing the goods in the general conditions of a proof of trust, the customer takes possession of the goods and can do whatever he wishes as long as he does not violate the conditions of his contract with the bank. If he decides to terminate the bank`s guarantee right and attach it to the inventory, he can issue a tender for the pre-paid amount on the goods, which gives him full ownership of the goods.
We undertake to provide the Bank with all the necessary information so that the Bank can apply the proceeds of the sale we receive to the corresponding project. In the event that the goods or originals of the bill of lading/shipping documents have not been received by us at the time of this Agreement, all such goods and/or documents are kept with us after receipt, in accordance with the conditions contained therein, and, unless otherwise instructed by the Bank, shall be deemed to have been delivered to the Bank and immediately delivered by the Bank to the Bank and subject to such trust receipt. nd released. Without prejudice to the general quality of the foregoing, we undertake to act as representatives for and on behalf of the Bank to carry out the unloading, registration, transport, storage inspection, insurance and / or sale of the goods. 7. We pay all freight warehouse transit and other rental fees and all other costs and incidental costs of the goods, including, but not limited to, costs related to unloading, registration, transportation, storage, inspection, insurance (including all premiums) and/or sale of the goods, as well as import duties and other taxes, if any. We also undertake to take all measures to remedy any loss or damage suffered by the Bank in respect of the goods, including, if the Bank so requests, to exempt the opening of proceedings on our behalf or on our common behalf. 8. Without prejudice to the other provisions of this Agreement, we undertake to receive delivery and storage of the goods on behalf of the bank and, at the request of the bank, to provide the bank with all receipts, attornations or documents from the warehouse that attest to the ownership or right of ownership of the goods. . .