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English Private Law$
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Andrew Burrows

Print publication date: 2013

Print ISBN-13: 9780199661770

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199661770.001.0001

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SECURITY

SECURITY

Chapter:
(p.307) 5 SECURITY
Source:
English Private Law
Author(s):

Lionel Smith

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199661770.003.0005

A security for an obligation is something that makes it more likely that the obligation will eventually be fulfilled. It makes the creditor more secure. English law recognizes broadly two kinds of security: real security and personal security. This chapter focuses on real security, where the creditor obtains a ‘real right’ or a proprietary right in one or more assets that belong to the debtor. The chapter is organized as follows. Sections B and C discuss real security over land and real security over moveable property, respectively. Section D deals with priorities: i.e., the resolution of disputes between the holder of a security interest and the holder of some other interest in the same property. The final section addresses the principles of personal security.

Keywords:   English law, real security, personal security, creditors, debtors, property rights real rights, land, moveable property, priorities

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