- •Contents
- •General editors’ preface
- •Preface
- •Contributors
- •Table of cases cited by name
- •England
- •Ireland
- •Netherlands
- •New Zealand
- •Scotland
- •South Africa
- •United States of America
- •Table of legislation
- •Austria
- •Belgium
- •Denmark
- •England
- •Finland
- •France
- •Germany
- •Greece
- •Ireland
- •Italy
- •Netherlands
- •Portugal
- •Scotland
- •South Africa
- •Spain
- •Sweden
- •Abbreviations
- •1 Introduction: security rights in movable property within the common market and the approach of the study
- •A. A short survey of the status quo
- •I. Economic reasons for the existence of security rights
- •II. Security rights in movable property: main divergencies
- •III. Private international law
- •1. Tangible movables: lex rei sitae and the limits of the doctrine of transposition
- •2. Claims: article 12 of the Rome Convention and its various interpretations
- •IV. The need for harmonisation within the EU
- •V. Attempts at harmonisation or unification: past and present
- •1. European Union
- •2. UNCITRAL
- •3. UNIDROIT
- •4. European Bank for Reconstruction and Development
- •B. The approach and purpose of the study
- •I. The ‘Common Core methodology’ as applied to secured transactions
- •II. Surveying the legal landscape against the background of a need for harmonisation
- •III. The genesis of the book
- •1. Narrowing down the topic
- •2. On terminology and the glossary
- •3. Order of the national reports
- •Bibliography
- •2 A labyrinth of creditors: a short introduction to the history of security interests in goods
- •1. Introduction
- •2. Justinian Roman law
- •3. Later developments in the European ius commune
- •4. Security interests in movables in the continental European codes
- •5. Common law and civil law
- •Bibliography
- •Brief description of key features of Article 9
- •History and context
- •Article 9 in depth
- •Creation, attachment and enforceability of a security interest
- •Scope of Article 9’s coverage
- •Perfection
- •How is perfection achieved?
- •Priority rules
- •Third-party rights
- •The filing system
- •Post-default rights and remedies
- •Conclusion
- •A. Article 9 through the eyes of an English lawyer
- •B. The values of English law
- •C. The future of English law
- •D. Summary
- •Postscript
- •Bibliography
- •5 The European Bank for Reconstruction and Development’s Secured Transactions Project: a model law and ten core principles for a modern secured transactions law in countries of Central and Eastern Europe (and elsewhere!)
- •Introduction
- •The EBRD Model Law on Secured Transactions: four objectives
- •The EBRD Ten Core Principles
- •How does the Model Law score? Answers to the questionnaire
- •Cases 1 and 2
- •Case 3
- •Case 4
- •Cases 5 and 6
- •Cases 7 and 8
- •Cases 9 and 11
- •Cases 10 and 14
- •Cases 12 and 13
- •Case 15 and a conclusion
- •Abbreviations
- •Germany
- •Austria
- •Greece
- •France
- •Belgium
- •Portugal
- •Spain
- •Italy
- •The Netherlands
- •England
- •Ireland
- •Scotland
- •South Africa
- •Denmark
- •Sweden
- •Finland
- •Evaluation/Comparative observations
- •Bibliographies
- •Germany
- •Austria
- •Greece
- •France
- •Belgium
- •Portugal
- •Spain
- •Italy
- •The Netherlands
- •England
- •Scotland
- •South Africa
- •Denmark
- •Sweden
- •Finland
- •Comparative observations
- •Glossary
- •I. Introduction
- •Questions
- •Discussions
- •Effects of bankruptcy
- •General remarks on transfer of ownership
- •Comparative observations
- •part (a)
- •Passing of ownership
- •part (b)
- •part (c)
- •Case 2: The deceived seller
- •Question
- •Discussions
- •Comparative observations
- •Abstract and causal systems
- •Protection of third parties
- •Case 3: Machinery supplied to be used by the buyer
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a) and (e)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 4: Jackets for resale
- •Question
- •Discussions
- •Comparative observations
- •Case 5: Motor cars supplied and resold (I)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •(i) Solutions which do not require additional clauses or transactions
- •(iii) Assignment of the proceeds
- •(v) Contracts other than sale under retention of title (consignment and commission)
- •(vi) Rights in the sold goods other than retention of title
- •(vii) Summary
- •Case 6: Motor cars supplied and resold (II)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Case 7: Supply of material to manufacturer (I)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 8: Supply of material to manufacturer (II)
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a) and (b)
- •Part (c)
- •Part (d)
- •Case 9: Too many toasters
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •(i) Validity of all-sums clauses
- •(ii) Invalidity of all-sums clauses
- •(iii) All-sums clauses and commingling
- •(iv) Invalidity of simple retention of title
- •Part (b)
- •Part (c)
- •Questions
- •Discussions
- •(i) Principle of publicity
- •(iii) Unconscionability
- •Comparative observations
- •Parts (a)--(c)
- •(i) Use of ownership for security purposes
- •(ii) Security rights based on the idea of a pledge without dispossession
- •Part (d)
- •Case 11: Bank loan for a wholesaler
- •Questions
- •Variation
- •Discussions
- •Stock-in-trade containing goods sold under retention of title
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Comparative observations
- •Parts (a)--(c)
- •Part (d)
- •Variation
- •Case 12: Bank loan on the basis of money claims (I)
- •Questions
- •Discussions
- •Comparative observations
- •(iii) Further requirements
- •Case 13: Bank loan on the basis of money claims (II)
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a)--(c)
- •Part (d)
- •Case 14: Finance leasing of computers
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 15: Indebted businessman sells business to brother
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Parts (b) and (c)
- •A. General tendencies
- •I. Common developments
- •1. Evolution of secured transactions law outside the Civil Codes
- •2. No unitary, functional approach to security rights
- •3. Enlarging the range of security rights
- •4. Limiting the rights of secured creditors in insolvency
- •6. The rise of contractual devices coupled with title-based security rights
- •II. Persisting differences
- •1. General attitude towards security rights in movables
- •B. Convergences and divergences in relation to specific security rights
- •I. Security rights with strong convergence
- •1. Simple retention of title
- •2. Leasing
- •II. Security rights where some elements of convergence are present but where significant differences continue to subsist
- •1. Security rights in entities of property -- enterprise charge
- •2. Security assignment of claims or charge over claims (outside retention of title)
- •3. Extensions of retention of title
- •4. Non-possessory security rights in individualised property (other than retention of title and leasing)
- •C. Possible ways towards harmonisation
- •I. Simple retention of title
- •II. Harmonisation or unification beyond simple retention of title
- •1. Form, scope and context
- •2. Main policy choices concerning the substantive rules
- •(a) Uniform, functional approach
- •(b) Range of possible collateral
- •(c) Publicity
- •(d) Priority
- •(e) Special rules for purchase-money security interests
- •Bibliography
- •Index by country
- •Index by subject
144 t h e c a s e s t u d i e s
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The Netherlands
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W. H. M. Reehuis, Eigendomsvoorbehoud (1998).
H. J. Snijders, E. B. Rank-Berenschot, Goederenrecht (2001).
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b i b l i o g r a p h i e s |
145 |
England
M. G. Bridge, The Sale of Goods (1997).
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R. J. Calnan, ‘Property, Security and Possession in Insolvency Law’, JIBFL 11 (1998) 530 ff.
N. Furey, ‘Goods Leasing and Insolvency’, in: N. E. Palmer, E. McKendrick (eds.), Interests in Goods (2nd edn, 1998) 787 ff.
Sir Peter Millett, ‘Equity’s Place in the Law of Commerce’, LQR 114 (1998) 214 ff. G. K. Morse et al. (eds.), Palmer’s Company Law (1992, looseleaf).
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W.Swadling, ‘The Proprietary Effect of a Hire of Goods’, in N. E. Palmer, E. McKendrick (eds.), Interests in Goods (2nd edn, 1998) 491 ff.
Scotland
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James Dalrymple (Lord Stair), Institutions of the Law of Scotland (Edinburgh 1681 and many subsequent editions) (cited as: Stair, Institutions).
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G. L. Gretton, ‘Using Trusts as Commercial Securities’, JLSS 1988, 53 ff. ‘Assignation of Contingent Rights’, JR 1993, 23 ff.
G. L. Gretton, K. G. C. Reid, 1985 SLT (News) 329 and 1989 SLT (News) 185.
D. J. Hayton, S. C. J. J. Kortmann, H. L. E. Verhagen, Principles of European Trust Law (1999).
David Johnston, Reinhard Zimmermann, Unjustified Enrichment (2002). William W. McBryde, Bankruptcy (2nd edn, 1995).
The Law of Contract in Scotland (2nd edn, 2001).
D. L. Carey Miller, Corporeal Moveables in Scots Law (1991).
J. B. Miller, Law of Partnership in Scotland (2nd edn by G. Brough, 1994). Kenneth G. C. Reid, ‘Trusts and Floating Charges’, 1987 SLT (News) 113 ff.
The Law of Property in Scotland (1996).
‘National Report for Scotland’, in: D. J. Hayton/S. C. J. J. Kortmann/H. L. E. Verhagen (eds.), Principles of European Trust Law, 67 ff.
Donna W. Mackenzie Skene, Insolvency Law in Scotland (1999).
South Africa
David L. Carey Miller, The Acquisition and Protection of Ownership (1986).
146 t h e c a s e s t u d i e s
Johannes C. De Wet, Abraham G. Du Plessis, ‘Agency and Representation’, in: Willem A. Joubert (ed.), The Law of South Africa, vol. I (1993) paras. 100--59.
Johannes C. De Wet, Andreas H. Van Wyk, De Wet en Yeats; Die Suid-Afrikaanse Kontraktereg en Handelsreg (4th edn, 1978).
George R. J. Hackwill, Mackeurtan’s Sale of Goods in South Africa (5th edn, 1984). Duard G. Kleyn, Andre Boraine, Silberberg and Schoeman’s The Law of Property (3rd
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Gerhard F. Lubbe, ‘Mortgage and Pledge’, in: Willem A. Joubert (ed.), The Law of South Africa, vol. XVII (1983) paras. 392--520.
Petrus M. Nienaber, ‘Cession’, in: Willem A. Joubert (ed.), The Law of South Africa, vol. II (first reissue, 1993) paras. 223--74.
Johan M. Otto, Credit Law Service (1990--6, looseleaf). Pieter J. Rabie, The Law of Estoppel in South Africa (1992).
Johan Scott, Susan Scott, Wille’s Law of Mortgage and Pledge in South Africa (3rd edn, 1987).
Susan Scott, The Law of Cession (2nd edn, 1991). Catherine Smith, The Law of Insolvency (3rd edn, 1988).
Catherine Smith, Robert Sharrock, ‘Insolvency’, in: Willem A. Joubert (ed.), The Law of South Africa, vol. XI (first reissue, 1998) paras. 112--301.
Sonnekus, ‘Vloerplanooreenkomste en ‘n Sober Klank van die Regbank daarteen’ TSAR 1999, 776 ff.
Cornelius G. van der Merwe, Sakereg (2nd edn, 1989).
Cornelius G. van der Merwe, Catherine Smith, ‘Financing the Purchase of Stock by the Transfer of Ownership: A Simulated Transaction?’, StellLR 1999, 303 ff.
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Denmark
Lennart Lynge Andersen, Palle Bo Madsen, Jørgen Nørgaard, Aftaler og mellemmænd (3rd edn, 1997).
Lennart Lynge Andersen, Peter Møgelvang-Hanse, Niels Ørgaard, Gældsbrevsloven (1997).
Lennart Lynge Andersen, Erik Werlauff, Kreditretten (3rd edn, 2000). Vagn Carstensen, Ting og Sager, vol. I (1981), vol. II (1984).
Nis Jul Clausen, Sikkerhed i fordringer (3rd edn, 2000).
Michael Elmer, Lise Skovby, Ejendomsretten, vol. I (3rd edn, 1995). W. E. von Eyben, Formuerettigheder (7th edn, 1983).
Panterettigheder (8th edn by Henning Skovgaard, 1987).
b i b l i o g r a p h i e s |
147 |
Bernhard Gomard, Hovedpunkter af selskabsretten (4th edn, 1994). Fogedret (4th edn, 1997).
Hans Verner Højrup, Ejendomsret (1976). Knud Illum, Ejendomsforbehold (1946).
Bent Iversen, Jørgen Nørgaard, Morten Wegener, Niels Ørgaard, Danish Business Law (1998).
Mogens Munch, Konkursloven (9th edn by Lars Lindencrone Petersen and Anders Ørgaard, 2001).
Noe Munck, Lars Hedegaard Kristensen, Jørgen Nørgaard, Selskabsformerne (3rd edn, 1997).
Niels Ørgaard, Sikkerhed i løsøre (3rd edn, 1998). Konkursret (7th edn by Anders Ørgaard, 1999).
Lars Lindencrone Petersen, Niels Ørgaard, Danish Insolvency Law -- A Survey (1996). Thomas Rørdam, Vagn Carstensen, Pant (6th edn, 1998).
Sweden
Tore Almén, ‘Om äganderättsförbehåll till föremål som införlivats med fast egendom’, SvJT 1918, 5 ff.
Tore Almén, Rudolf Eklund, Lagen om köp och byte av lös egendom (4th edn, 1960). Sjur Braekhus, Omsetning og kreditt, Pant og annen realsikkerhet (2nd edn, 1994)
(Norwegian).
Ulf Göranson, Traditionsprincipen (1985).
Kurt Grönfors, Sjölagens bestämmelser om godsbefordran (1982). Torgny Håstad, Studier i sakrätt (1980).
‘Reform av de nordiska avtalslagarna’, 32 Nordiska Juristmötet 1990, 247 ff.
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Bo Helander, Kreditsäkerhet i lös egendom (1984).
Jan Hellner, ‘Standardavtal vid avtals slutande’, Juridiska Föreningen i Finland Tidskrift 1979, 298 ff.
Henrik Hessler, Allmän sakrätt (1973).
Mikael Möller, Civilrätten vid finansiell leasing (1996). Tiberg, ‘Stoppningsrätt’, SvJT 1993, 548 ff.
Östen Unden, Svensk sakrätt. I. Lös egendom (9th edn, 1974).
Finland
Erkki Havansi, Esinevakuusoikeudet [Security Rights in Property] (2nd edn, 1992). Janne Kaisto, Tiesi tai olisi pitänyt tietää [Knew or Should Have Known] (1997) (with a
summary in English).
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