Proprietary Interests in Commercial Transactions
One of the most pressing problems now facing commercial lawyers is to explain the principles which determine when a remedy is proprietary and when it is not. This book provides a broad overview of the subject. It examines representative business transactions which commonly give rise to legalor equitable interests in personal property. Its aim is to distil the fundamental principles understanding the relevant legal analyses. The result is to provide a more theoretically rigorous analytical framework for proprietary interests in personal property. The practical advantages of this arepotentially twofold: new commercial transactions can be more effectively structured; in addtion, disputes between contracting parties can be more reliably resolved. Two features of the analysis are significant. The first is the elastic nature of proprietary interests in personal property. Althoughproprietary interests can be broadly classified as ownership or security interests, these are relative concepts which may be affected significantly by impinging contractual arrangements. The second feature is the necessary and intimate integration of law and equity. Equitable proprietary interestsare remarkabldy prevalent; this prevalence is directly related to the apparent ease with which equity is able to convert particular personal obligations into proprietary interests.
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Table of Abbreviations
RETENTION OF TITLE CLAUSES
QUISTCLOSE TRUSTS AND RELATED
acquired agreement analysis arguably arising by operation Barclays Bank Ltd BCLC Birks borrower borrower's breach buyer chargee's interest chargor claim commercial common law considered constructive trust context contract of sale contractual rights court creditors debt defendant discussion effect equitable interest equitable lien equity's example fiduciary floating charge Gibson principle Goff Goldcorp Goldcorp Exchange Ltd Gummow Ibid Insolvency intention Investments Ltd issue legal owner legal ownership legal title lender licence to deal Lloyds Bank loan funds London Lord Browne-Wilkinson Ltd in liq Ltd in rec Mattos Millett NZLR obligation to transfer operation of law original owner paid payment plaintiff problem proceeds purchase fund purchaser's Quistclose trust remedy Restitution resulting trust retained retention of title revest sale property sect security interest seller simply specifically enforceable suggests Swiss Bank Corporation third party title clauses transactions vendor void contract voidable
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