Authorised by Academic Registrar, April 1996
Objectives Students completing this subject will (1) acquire an understanding of the functions of credit and security; (2) be familiar with the different forms of secured lending transaction and the reasons for their development; (3) appreciate the factors likely to determine the choice of a particular secured lending instrument; (4) have a sound grasp of the legal and equitable concepts which underpin the different forms of transaction; (5) be familiar with the ways in which the different forms of transaction are regulated; (6) be able to solve problems arising out of the application of case and statute law to particular kinds of transaction; and (7) identify weaknesses in the current law and be able to argue the case for reform.
Synopsis The following topics are covered: introduction; the nature, functions and variety of secured lending transactions; real property securities; chattel securities; receivables financing; company securities; Romalpa clauses; guarantees.
Assessment Optional written assignment (3000 words): 30% and final examination (2 hours): 70% or final examination (3 hours): 100%