The process of creating effective security interests in personal property to secure performance of contractual obligations is a critical component of commercial dealings and financings. This unit examines how security may be taken over common forms of personal property through a detailed analysis of the legislative regime established by the Personal Property Securities Act 2009 (Cth), which became operative in January 2012. Providing an overview of the historical and economic development of the law in this area, the unit explores the rationale for the comprehensive legislation as well as its underlying general principles. An international and comparative perspective is offered through references to the Canadian and New Zealand experience in introducing equivalent statutory frameworks, with part of the course materials drawn from these jurisdictions.
2x2-hr seminars/week for 10 weeks
3000wd assignment (30%) and 2hr exam (70%)