to be used as a form of consumer credit. Lenders would extend credit on the security of:all and every the household goods, furniture, plate, linen, china, books, stock in trade, brewing utensils and all the effects.Most often, people would grant bills of sale over their goods as security for a loan. Borrowers would transfer ownership of their goods to the lender, while retaining possession of them when making repayments. When the loan was repaid, the borrower would regain ownership. Bills of sale used in this way are known as "security bills". Sometimes, bills of sale would transfer ownership outright, such as when a person sold their goods to another while retaining possession. Bills of sale used for purposes other than borrowing money are known as "absolute bills". Bills of Sale Acts The increased use of bills of sale in the Victorian era created a "false wealth" problem. Potential purchasers and other lenders could be misled into thinking that the person in possession of goods still owned them. The person in possession could sell the goods or use them to secure another loan. In both cases, the transaction was fraudulent, but the purchaser or lender had no way of discovering that the goods were already subject to a bill of sale. As a result, Parliament passed the Bills of Sale Act 1878. This largely replicated the provisions of an earlier Bills of Sale Act 1854. It requires all bills of sale to be registered at the High Court so that interested third parties could check whether the person in possession has already transferred away ownership of goods. The Bills of Sale Act (1878) Amendment Act 1882 had a different purpose. The 1878 Act led to a rise in the use of security bills. Concerns were expressed that such transactions could lead "thousands of honest and respectable people to their ruin". Parliament noted that:Many money-lenders advertised under the names of fictitious banks; and sometimes they advertised in this form – "A widow, with capital to spare, will be happy to lend on easy terms. Strict secrecy. Five per cent."… Having entrapped a man into his office, the money-lender proceeded in this way – He produced a bill of sale containing a large number of clauses, which it was impossible for the borrower to read or understand in the time allowed...In response, Parliament enacted the 1882 Act, which was an early attempt at