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This study of the boundaries of personal property has an inward and an outward perspective, with the intellectual emphasis on the latter. The inward-looking inquiry considers shares as items of personal property. Nowadays those who think of themselves as shareholders often stand one step removed from the share itself. They hold what this book christens a sub-share. This part of the book asks in what sense shares and sub-shares can be conceived to be things, how those things are alienated, and how they are protected in litigation. The outward-looking inquiry then asks whether personal property can be contemplated as a sub-category of the law of things and, more particularly, as the law of all things locatable in space, alienable, or vindicable in court. The outward inquiry considers three boundaries. Within the law of property the line between realty and personalty proves relatively uncontroversial; the second boundary lies between property and obligations; the third between wealth and non-wealth. The second boundary is the main concern. Respect for it necessitates a differentiation between the law of property in the strict sense and the all-encompassing law of wealth, even where the consequence might be to exclude shares and sub-shares from the law of property. In maintaining the value of careful proprietary taxonomy and in reviving the underlying concepts on which it depends, this book opposes modern scepticism as to the possibility and desirability of precision in legal classification. In these commitments it could fairly be styled a post-modern study of personal property. Winner of the SLS Birks Prize for Outstanding Legal Scholarship 2006 - Second Prize
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The law of personal property covers a very wide spectrum of scenarios and, unfortunately, has had little detailed scrutiny of its overarching structure over the years. It is a system and can best be understood as a system. Indeed, without understanding it as a system, it becomes much more difficult to comprehend. The second edition of this acclaimed textbook continues to provide a comprehensive yet detailed coverage of the law of personal property in England and Wales. It includes transfer of legal title to chattels, the nemo dat rule, negotiable instruments and assignment of choses in action. It also looks at defective transfers of property and the resulting proprietary claims, including those contingent on tracing, the tort of conversion, bailment and security interests. By bringing together areas often scattered throughout company law, commercial law, trusts and tort textbooks, it enables readers to see common themes and issues and to make otherwise impossible generalisations across different contexts about the nature of the concepts English law applies. Throughout the book, concepts are explained rigorously, with reference to how they are used in commercial practice and everyday life. The new edition also includes a new chapter on secured transactions law reform, and introduces new material on the Cape Town Convention, IP rights and other intangible property. The book will be of primary interest to academics and practitioners in the area. However, it will also be of use to students studying commercial or personal property law
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