Bank of New Zealand v Elders Pastoral Ltd - [1992] 1 NZLR 536

Property law — Mortgage — Instrument by way of security — Bank having security over farmer's crop — Sale of crop by agent to whom money owing by farmer — Agent deducted indebtedness from proceeds — Whether agent deemed to have notice of contents of instrument — Whether bank entitled to recover proceeds — Chattels Transfer Act 1924, ss 4 and 35 - Fourth schedule, cls 5 and 9.