The Floating Charge

Research output: Book/ReportBook

Abstract

At common law, floating charges were rejected in Scotland.1 Due to their non-compliance with the required formalities for creating security rights, Lord President Cooper famously described them as “utterly repugnant to the principles of Scots law”.2 However, the existing system, requiring delivery of corporeal moveables to the creditor and an equivalent step for other property types, was considered too burdensome and restrictive for commerce, especially in comparison to the position in England.3 This led to the introduction, in 1961,4 of a statutory floating charge, a non-possessory security adapted from the floating charge of English equity.
Original languageEnglish
Place of PublicationEdinburgh
PublisherEdinburgh Legal Education Trust
ISBN (Print)9781999611828
Publication statusAccepted/In press - 8 Sep 2019

Publication series

NameStudies in Scots Law
PublisherEdinburgh Legal Education Trust
Volume8

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floating
creditor
common law
commerce
equity
president

Cite this

Macpherson, A. D. J. (Accepted/In press). The Floating Charge. (Studies in Scots Law; Vol. 8). Edinburgh: Edinburgh Legal Education Trust.

The Floating Charge. / Macpherson, Alisdair D. J.

Edinburgh : Edinburgh Legal Education Trust, 2019. (Studies in Scots Law; Vol. 8).

Research output: Book/ReportBook

Macpherson, ADJ 2019, The Floating Charge. Studies in Scots Law, vol. 8, Edinburgh Legal Education Trust, Edinburgh.
Macpherson ADJ. The Floating Charge. Edinburgh: Edinburgh Legal Education Trust, 2019. (Studies in Scots Law).
Macpherson, Alisdair D. J. / The Floating Charge. Edinburgh : Edinburgh Legal Education Trust, 2019. (Studies in Scots Law).
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