Quinquagenaries

(2023) 46:1 Dalhousie Law Journal (Forthcoming)

24 Pages Posted: 12 Feb 2021

See all articles by Anthony J. Duggan

Anthony J. Duggan

University of Toronto - Faculty of Law

Date Written: January 26, 2021

Abstract

This article is part of a symposium to mark the 50th anniversary, or quinquagenary, of the Dalhousie Law Journal. The invitation to participate in the symposium asked authors to reflect on developments in their field over the past 50 years. My field is the law of secured transactions and, as it happens, the Canadian Personal Property Security Acts (“PPSAs”) are approaching their own quinquagenary. There have been numerous statutory and case law developments over the past 50 years, but one of the most remarkable turn of events is the influence the Canadian PPSAs have had on the reform of secured transactions laws in other countries, including New Zealand and Australia. Australia and New Zealand have already built up a substantial body of PPSA case law and literature which in part tracks Canadian learning, but in part also deals with issues that have not been as much discussed in Canada. One issue that has received a good deal of attention, particularly in Australia, is the PPSA’s application to true lease agreements. In contrast to Article 9 of the United States Uniform Commercial Code, the Canadian PPSAs apply not only to security (finance) leases, but also to true leases that are for a term of more than one year. The Australian and New Zealand PPSAs take more or less the same approach. The purpose, in part, is to avoid litigation on the true lease-finance lease distinction in determining the application of the statute. This paper, drawing on Canadian, Australian and New Zealand learning, aims to show that the need for drawing the distinction persists to a greater extent than is commonly supposed.

Keywords: secured transactions, commercial law, law reform, leases

JEL Classification: K22

Suggested Citation

Duggan, Anthony James, Quinquagenaries (January 26, 2021). (2023) 46:1 Dalhousie Law Journal (Forthcoming), Available at SSRN: https://ssrn.com/abstract=3773814 or http://dx.doi.org/10.2139/ssrn.3773814

Anthony James Duggan (Contact Author)

University of Toronto - Faculty of Law ( email )

78 and 84 Queen's Park
Toronto, Ontario M5S 2C5
Canada

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