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DRPS : Course Catalogue : School of Law : Law

Postgraduate Course: The Law of Secured Finance (LAWS11360)

Course Outline
SchoolSchool of Law CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryAn examination of selected issues regarding the law relating to debt, including the provision of rights in security to facilitate the raising of finance (through rights in security or quasi-security devices); the enforcement of rights in security and security like devices; debt enforcement through execution of judgements. The course will primarily focus on law within the United Kingdom and will take an advanced look at a variety of topics. Theoretical and comparative law material from a variety of systems (in Europe and the Anglo-American tradition) will be used to examine the subjects studied.
Course description The syllabus will vary from year to year to cover subjects of topical interest but may include: terminology and taxonomy of rights in security and security like devices; theories relating to social and economic justifications for the priority of secured credit; the law relating to pledge; securities arising by operation of law (including liens); non-possessory securities; floating charges; the raising of finance on incorporeal property; trusts as security devices; retention of title clauses; debt factoring; securitisation; personal guarantees; third party securities; judicial enforcement of court orders for payment; personal property security acts; Article 9 of the United States Uniform Commercial Code; international private law aspects of secured finance.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Information for Visiting Students
High Demand Course? Yes
Course Delivery Information
Not being delivered
Learning Outcomes
On completion of this course, the student will be able to:
  1. general knowledge and understanding of the fundamental legal concepts underpinning the areas of debt, rights in security and security like devices discussed in the course, as well as knowledge and understanding of the legal rules applicable in these areas arising in national and comparative contexts;
  2. an in-depth knowledge and understanding of some particular areas of law within this broader framework;
  3. an advanced ability to differentiate between and use appropriately primary and secondary sources of law, and identify, retrieve and use relevant and appropriately up-to-date legal information ensuring sources that are up-to-date, appropriate to the context of the law relating to debt, rights in security and security like devices;
  4. an advanced ability to identify accurately the issues which require to be researched, and to formulate them clearly;
  5. an advanced ability to analyse, evaluate, and interpret primary and secondary legal sources relevant to the law relating to debt, rights in security and security like devices, and to view critically existing legal rules within that context;
Reading List
An illustrative list of some general textbooks that can be used for the class. Textbooks cited will vary dependent on the topics studied. Our library holdings in this area are generally very good as we have good holdings to support the existing LLM class on the law relating to debt and insolvency.

JH Dalhuisen, Dalhuisen's Transnational Comparative, Commercial, Financial and Trade Law: Financial Products, Financial Services and Financial Regulation (4th edn, 2010)
RM Goode, H Kronke, E McKendrick, & Wool Transnational Commercial Law: Text, Cases and Materials (2nd edn, 2012))
LS Sealy and RJA Hooley, Cases, Text and Materials on Commercial Law (2008, 4th edn),
Ewan McKendrick, Goode on Commercial law (4th edn, 2010)
RG Anderson, Assignation (2008)
E Ferran, Principles of Corporate Finance Law (2008, 2nd edn) (the earlier edition, Company law and corporate finance (1999) stil has utility for some general principles
WM Gloag and JM Irvine, The law of rights in security and cautionary obligations (1897)
Louise Gullifer, Goode on Legal Problems of credit and Security (4th edn, 2008)
N Ruddy, S Mills, N Davidson, Salinger on Factoring (4th edn, 2006) (new edition coming soon)
M Bridge, Personal Property Law (3rd edn, 2002) ch 7
M Graziadei, U Mattei and L Smith (eds), Commercial trusts in European Private law
E-M Kieninger (ed) Security rights in movable property in European Private law (2004)
R Cranston, Principles of Banking Law (2002, 2nd edn)
L Crerar, Banking Law in Scotland (2007, 2nd edn).
Ellinger, Lomnicka and Hare, Modern Banking Law (2011, 5th edn)
PR Wood, The Law and Practice of International Finance Series
Additional Information
Graduate Attributes and Skills Not entered
Keywordslaw,debt,commercial law,rights in security,execution of judgments,trusts,asset finance
Course organiserMr Scott Wortley
Tel: (0131 6)51 4307
Course secretaryMs Olivia Hayes
Tel: (0131 6)50 9588
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