19. Freedom of contract

Except as otherwise provided for in this Act or in any other law, a security agreement shall be effective according to its terms between the parties to the agreement and against a third party.

A perfected security right in proceeds shall be enforceable against a third party, irrespective of whether or not the security agreement contains a description of the proceeds.

Where a security agreement is in writing, the secured party shall deliver a copy of the written agreement to the debtor within ten days of its execution and if the secured party fails to deliver a copy after a request is made by the debtor, a Magistrate's Court shall have the power, upon an application made in that behalf by the debtor, to make an order for the delivery of such copy to the debtor.