Security Rights in Movable Property in European Private Law ( The Common Core of European Private Law )

Publication series :The Common Core of European Private Law

Author: Eva-Maria Kieninger;Michele Graziadei;George L. Gretton;Cornelius G. van der Merwe;Matthias E. Storme;  

Publisher: Cambridge University Press‎

Publication year: 2004

E-ISBN: 9781316939109

P-ISBN(Paperback): 9780521839679

P-ISBN(Hardback):  9780521839679

Subject: D99 international law

Keyword: 法律

Language: ENG

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Description

The book presents a survey of the law relating to secured transactions in the member states of the European Union. For every transnational lawyer, it is vital to know the differences between national secured transactions laws. Introductory essays from comparative lawyers set the scene. The book then presents a survey of the law relating to secured transactions in the member states of the European Union. For every transnational lawyer, it is vital to know the differences between national secured transactions laws. Introductory essays from comparative lawyers set the scene. The book then presents a survey of the law relating to secured transactions in the member states of the European Union. For every transnational lawyer, it is vital to know the differences between national secured transactions laws. Since the applicable law is determined by the place where the collateral is situated, it may change when movables are brought from one state to another. Introductory essays from comparative lawyers set the scene. The book then presents a survey of the law relating to secured transactions in the member states of the European Union. Following the Common Core approach, the national reports are centred around fifteen hypothetical cases dealing with the most important issues of secured transactions law, such as the creation of security rights in different business situations, the relationship between debtor and secured creditor, the nature of the creditor's rights and their enforcement as against third parties. each case is followed by a comparative summary. A general report evaluates the possibilities of European harmonisation in the field of secured transactions law. Part I. Introduction and context: 1. Introduction Eva-maria Kieninger; 2. A labyrinth of creditors Willem J. Zwalve; 3. Security in movables in the United States Harry C. Sigman; 4. The English law of security Michael Bridge; 5. The European Bank for Reconstruction and Development's Secured Transactions project Frederique Dahan and John Simpson; Part II. The Case Studies; Evaluation: a common core? Convergences, subsisting differences and possible ways for harmonisations Eva-maria Kieninger; Indexes. 'The volume is a profound comparative study which discusses the main problems of the European law of security rights in movable property in depth. … The study … is a valuable contribution to scholarship in the field of security law, but also to comparative property law in general. The neutral and descriptive approach of the study constitutes a good basis for further scholarly and political discussions on the harmonisation of security law. The case-orientated approach makes it also a good device for legal education. The volume thus can serve as a useful basis for a course or seminar on comparative property law. The picture that is drawn shows clearly that there is space and need for activity by the European Union.' Maastricht Journal of European and Comparative Law

Chapter

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

3 Security in movables in the United States -- Uniform Commercial Code Article 9: a basis for comparison

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

Choice of Law (including, importantly, where to file)

Perfection

How is perfection achieved?

Priority rules

Third-party rights

The filing system

Post-default rights and remedies

Conclusion

4 The English law of security: creditor-friendly but unreformed

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

PART II THE CASE STUDIES

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

Case 1: Furniture for a new office

Questions

Discussions

GERMANY

AUSTRIA

Effects of bankruptcy

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

General remarks on transfer of ownership

FINLAND

Comparative observations

part (a)

Passing of ownership

part (b)

part (c)

Case 2: The deceived seller

Question

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Abstract and causal systems

Protection of third parties

Case 3: Machinery supplied to be used by the buyer

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Parts (a) and (e)

Part (b)

Part (c)

Part (d)

Case 4: Jackets for resale

Question

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Case 5: Motor cars supplied and resold (I)

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Part (a)

Part (b)

Part (c)

(i) Solutions which do not require additional clauses or transactions

ii) Charge over the proceeds

(iii) Assignment of the proceeds

iv) Employing the law of trusts to gain a right over 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

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Part (a)

Part (b)

Case 7: Supply of material to manufacturer (I)

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Part (a)

Part (b)

Part (c)

Part (d)

Case 8: Supply of material to manufacturer (II)

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Parts (a) and (b)

Part (c)

Part (d)

Case 9: Too many toasters

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

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)

Case 10: Bank loan on the basis of a car fleet

Questions

Discussions

GERMANY

(i) Principle of publicity

ii) Prohibition of forfeiture clauses (pactum commissorium)

(iii) Unconscionability

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

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

GERMANY

Stock-in-trade containing goods sold under retention of title

Variation

AUSTRIA

Variation

GREECE

Variation

FRANCE

Variation

BELGIUM

Variation

PORTUGAL

Variation

SPAIN

Variation

ITALY

Variation

THE NETHERLANDS

Variation

ENGLAND

Variation

IRELAND

Variation

SCOTLAND

Variation

SOUTH AFRICA

Variation

DENMARK

Variation

SWEDEN

Variation

FINLAND

Variation

Comparative observations

Parts (a)--(c)

Part (d)

Variation

Case 12: Bank loan on the basis of money claims (I)

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

(i) Legal form or nature of the security right

(ii) Notification of or acceptance by the debitor cessus

(iii) Further requirements

Case 13: Bank loan on the basis of money claims (II)

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Parts (a)--(c)

Part (d)

Case 14: Finance leasing of computers

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Part (a)

Part (b)

Part (c)

Part (d)

Case 15: Indebted businessman sells business to brother

Questions

Discussions

GERMANY

AUSTRIA

GREECE

FRANCE

BELGIUM

PORTUGAL

SPAIN

ITALY

THE NETHERLANDS

ENGLAND

IRELAND

SCOTLAND

SOUTH AFRICA

DENMARK

SWEDEN

FINLAND

Comparative observations

Part (a)

Parts (b) and (c)

Evaluation: a common core? Convergences, subsisting differences and possible ways for harmonisation

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

5. Decline of the significance of possession

6. The rise of contractual devices coupled with title-based security rights

II. Persisting differences

1. General attitude towards security rights in movables

2. Significance of the principle of publicity

3. Significance of party autonomy in matters of property law

4. Significance of the prohibition of ‘pactum commissorium’

5. Notification requirements in relation to assignments or charges of claims

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

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