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The Law of Tracing in Commercial Transactions by Raczynska, Magda (1st February 2018)
- Preliminary Material
- Main Text
- Introduction
- 1 The Structure of Interests in Property in Commercial Transactions
- 2 Loss of Proprietary Interest in an Asset
- Preliminary Material
- 2.1 Introduction
- 2.2 Destruction of Asset
- 2.03
- 2.2.1 Physical destruction
- 2.2.2 Deemed destruction
- 2.2.3 Conclusion
- 2.3 Mixing under Special Circumstances
- 2.4 Disposition of the Interest in the Asset
- 2.4.1 General
- 2.4.2 Dispositions of assets subject to legal security interest
- 2.4.3 By the grantor of equitable security interest
- 2.4.4 By a buyer under a contract of sale with RoT clause
- 2.4.5 By a hirer of goods under a hire-purchase agreement
- 2.4.6 By a lessee
- 2.4.7 The relationship between the defences and claims to traceable proceeds of dispositions
- 2.5 Loss of a Proprietary Interest through a Disposition by a Third Party
- 2.6 Conclusion
- 3 Derived Assets
- Preliminary Material
- 3.1 Introduction
- 3.2 Derivation
- 3.2.1 The issue
- 3.2.2 Analytical categories
- 3.2.3 Derived assets from the contractual perspective
- 3.3 Classification of Changes to Subject Matter of Proprietary Interests
- 3.4 Conclusion
- 4 Default Rules in the Absence of an Agreement
- Preliminary Material
- 4.1 Introduction
- 4.2 The ‘Principle of Substitutions and Accretions’ in Buhr v Barclays Bank
- 4.3 Rights to Accretions
- 4.4 Automatic Rights to Substitutes?
- 4.16
- 4.17
- 4.4.1 Lack of support for the ‘principle of substitutions’
- 4.4.2 Right to insurance proceeds
- 4.4.3 Rights to proceeds of authorized dispositions in the context of security interests
- 4.32
- 4.4.3.A Fixed charges over proceeds of authorized dispositions
- 4.4.3.B Rights to proceeds of authorized dispositions of assets under a floating charge
- 4.4.4 Automatic right of a junior creditor to sale proceeds upon enforcement by a senior creditor
- 4.5 Automatic Right to Fruits?
- 4.6 Conclusion
- 5 Agreements with Derived Asset Clauses
- Preliminary Material
- 5.1 Introduction
- 5.2 Contracts of Sale with RoT Clauses Extending to Derived Assets
- 5.3 Security Agreements with Derived Asset Clauses
- 5.26
- 5.3.1 The effect of derived asset clauses as after-acquired property clauses
- 5.3.2 The character of interest
- 5.46
- 5.3.2.A The nature of asset and characterization of charges
- 5.3.2.B Equipment leases and hire-purchase agreements and rentals
- 5.3.2.C Insurance policy and proceeds
- 5.3.2.D Intellectual property rights and exploitation rights
- 5.3.2.E Shares and dividends paid upon them
- 5.3.2.F Land and fruits from land
- 5.3.2.G Long-term contracts and rights to payment
- 5.4 Conclusion
- 6 Claims to Proceeds of Unauthorized Acts
- Preliminary Material
- 6.1 Introduction
- 6.2 Automatic Right to Proceeds of Unauthorized Dispositions
- 6.3 Alternative Analysis to Buhr v Barclays Bank
- 6.4 Conclusion
- 7 What Should a Default Proceeds Rule Be?
- Preliminary Material
- 7.1 Introduction
- 7.2 Reform of the English Law of Secured Transactions and Title-based Finance
- 7.3 Property Law Considerations in Shaping the Default Rules
- 7.4 Economic Efficiency Considerations
- 7.5 Security in Proceeds under Article 9 UCC
- 7.6 Should English Law Follow Article 9 UCC?
- 7.7 Conclusion
- Conclusion
- Further Material
