- Syndicated loans — Guarantees and security — Bonds — Equity — Funds
The chapter explores the differences between property rights and rights that can be enforced only by action against a person. It contrasts the position in common law systems with that in civil law countries. The common law system is explained by looking at the development of equity and of the concepts of equitable ownership and of the trust. The chapter then examines the distinction by reference to case-law, particularly in relation to the mechanism of charge-backs. It then argues that the approach adopted by the common law is particularly well suited to the needs of financial transactions, in syndicated lending, bond issues, project financing, fund management and in allowing flexibility in the structuring of complex security arrangements.
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