LAWSG101 International and Comparative Secured Transactions

Credit value: 30 credits (15 ECTS, 300 learning hours)
Convenor: Magda Raczynska
Other Teachers: Richard Calnan
Teaching Delivery: 20 x 2-hour weekly seminars, 10 seminars per term, Term One and Two
Who may enrol: LLM students only
Prerequisites: None, but knowledge of basic principles of English personal property law will be an advantage (see Preliminary Reading)
Must not be taken with: None
Qualifying module for: LLM in International Commercial Law;
LLM in International Banking and Finance Law;
LLM in Corporate Law;
LLM in Comparative Law
Introductory video
Practice Assessment: Opportunity for feedback on one optional practice essay or on plan for final essay
Final Assessment: One 6,000-word essay (100%)
Module Overview
Module summary:

The module considers how security is granted by companies and the legal and practical issues in doing so. The taking of security is an aspect of the law of property and the module will therefore also consider principles underlying the creation of property rights and the incidence of proprietary interests arising in secured transactions. It will also look at the effectiveness of security as against other secured creditors and insolvency officers. While the focus is on current English law, comparative perspectives will be developed where possible and selected proposals for reform of English law will be considered.


Module syllabus:

  1. Types of security interests
  2. Fixed and floating charges
  3. Security in intangibles
  4. Creation and effectiveness of other proprietary interests created for the purpose of security: ‘quasi-security’
  5. Registration
  6. Priorities
  7. Enforcement
  8. The effect of insolvency
  9. Cross-border security
  10. Reform
Recommended materials:

  • R Calnan, ‘Taking Security’ (3rd edn Jordan Publishing 2013)
  • Louise Gullifer (ed), Goode on Legal Problems of Credit and Security (5th edition Sweet & Maxwell 2013)
  • H Beale, M Bridge, L Gullifer, E Lomnicka, The Law of Security and Title-Based Financing (2nd edn OUP 2012)

Module reading lists and other module materials will be provided via online module pages, once students have made their module selections upon enrolment.

Preliminary reading:

Candidates not familiar with the principles of English personal property law may benefit from:

  • Chapters 1 and 11 of D Sheehan, the Principles of Personal Property (Hart 2011)
  • Part I and III.F4 in B McFarlane, The Structure of Property Law (Hart 2008)