1. Bern Private Ltd recently entered into a loan agreement with BBB Bank Private ltd under which the bank agreed to lend Bern a sum of money. The loan agreement has, among others, the following provisions: i) The company shall charge to the bank the property of the company ii) Unless the company has prior written approval from the bank, the company shall not deal with the property in whatever manner iii) The property does not include the trading stock of the company.

The loan agreement has no definition for the type of properties to be covered by the provisions of the agreement.

In relation to company law, explain the nature of the charge given by Bern Private Ltd.

Is this question whether I have to choose floating or fixed charge?