Proprietary Interests in Commercial Transactions

This book provides a broad overview of personal property law in a commercial context. It examines the various devices used by contracting parties and attempts to distil a theoretical rigorous analytical framework to describe the relevant laws. The type of analysis presented in the work is important both in the resolution of disputes between parties and in the creation of new and more effective commercial devices. Two features of the analysis are significant. The first is the elastic nature of proprietary interests in personal property: proprietary interests may still be broadly classified as ownership or security interests, but these are relative concepts subject impinging contractual arrangements. The second is the necessary and intimate integration of law and equity: equitable proprietary interests are surprisingly prevalent; this prevalence is directly related to the ease with which equity is able to convert personal obligations in proprietary interests. This is a new and important work in an area of immense commercial importance.