The Law of Security and Title-Based Financing

Personal property security is an important subject in commercial practice as it is the key to much of the law of banking and sale. This book examines traditional methods of securing debts (such as mortgages, charges and pledges) on property other than land, describing how these are created, how they must be registered (or otherwise 'perfected') if they are to be valid, the rights and duties of the parties and how the security is enforced if the debt is not paid.

The third edition has been updated to cover a wealth of cases which have been decided since the last edition. These include new cases on: control of financial collateral, and relief against forfeiture under a financial collateral arrangement; retention of title (including the effect of "extended" clauses); estoppel and the HPI register; availability of set-off against assignee; a number of cases on enforcement of security; equitable liens; solicitor's liens and databases; on priority or purchase money security interests; and the Irish Supreme Court decision on floating charge and crystallisation.

The effect of key legislative changes have also been analysed and these include the 2013 amendments to the Companies Act 2006 Part 25, and issues post-ratification relating to the Cape Town Convention.

The only full-length treatment covering both traditional security over personal property and also devices that fulfil a similar economic function, such as retention of title and sales of receivables, The Law of Security and Title-Based Financing is a frequently-cited and indispensable reference work both for practitioners and academics.

Hugh Beale, Professor of Law, University of Warwick,Michael Bridge, Professor of Commercial Law, London School of Economics,Louise Gullifer, Professor of Commercial Law, University of Oxford,Eva Lomnicka, Professor of Law, King's College London

Professor Hugh Beale is Professor of Law at the University of Warwick.

Professor Michael Bridge is Cassel Professor of Commercial Law, London School of Economics and Professor of Law, National University of Singapore.

Professor Louise Gullifer is Professor of Commercial Law at the University of Oxford.

Professor Eva Lomnicka is Professor of Law at King's College London School of Law and a barrister at 4 New Square chambers.

1. Introduction
2. Use ofSecurity Interests and Quasi-security Interests in Debt Financing
3. Financial Collateral
I: Description of Interests
4. Types of Interest
5. Possessory Security
6. Non-possessory Security
7. Financing Devices Involving the Transfer or Retention of Title
8. Rights not Including the Transfer or Retention of Title
II: Registration and Other Perfection Requirements
9. Perfection Requirement
10. Interests Created by Companies
11. Interests Created by Debtors who are not Companies
III: Priorities
12. Introduction to Priorities
13. General Priority Rule: Nemo Dat (first in time to be created wins)
14. Exceptions to the Nemo Dat Rule
15. Authorized Dispositions
16. Priority between Consensual and Non-consensual Security Interests
17. Other Priority Issues
18. Enforcement of True Security interests
19. Enforcement of Financial Devices Involving the Transfer or
20. Enforcement of Security in Insolvency
21. Enforcement of Rights not Including the Transfer of Title
V: Conflict of laws
22. Conflict of Laws
VI: Criticism and reform proposals
23. Criticism and Reform Proposals