The Law & Practice of True Sales
The Law and Practice of True Sales raises issues of general law, applicable to many circumstances, as well as complex issues relating to insolvency and practical enforcement.
One Year Subscription Only Terms
Subscribers receive the product(s) listed on the Order Form and any Updates made available during the annual subscription period. Shipping and handling fees are not included in the annual price.
Subscribers are advised of the number of Updates that were made to the particular publication the prior year. The number of Updates may vary due to developments in the law and other publishing issues, but subscribers may use this as a rough estimate of future shipments. Subscribers may call Customer Support at 800-833-9844 for additional information.
Subscribers may cancel this subscription by: calling Customer Support at 800-833-9844; emailing email@example.com; or returning the invoice marked 'CANCEL'.
If subscribers cancel within 30 days after the product is ordered or received and return the product at their expense, then they will receive a full credit of the price for the annual subscription.
If subscribers cancel between 31 and 60 days after the invoice date and return the product at their expense, then they will receive a 5/6th credit of the price for the annual subscription. No credit will be given for cancellations more than 60 days after the invoice date. To receive any credit, subscriber must return all product(s) shipped during the year at their expense within the applicable cancellation period listed above.
The issue of true sale is one of immense importance in the finance markets, where billions of pounds are invested based on a given treatment of a transaction. At the heart of many structured finance transactions is some form of transfer of assets - usually a sale. Practitioners seek to ensure the robustness of this transfer because of concerns that courts might treat a transaction as a disguised loan or might unwind the transfer on the later insolvency of the transferor. Securitisation is the biggest market where this is a crucial issue; other structured finance transactions where assets are transferred to a special purpose company or are sent off balance sheet also use a true sale. This book raises issues of general law, applicable to many circumstances, as well as complex issues relating to insolvency and practical enforcement.
Table of contents
Part 1 – General principles - Introduction and history
Areas of application
Treatment on insolvency
Cross border transactions
Cross border insolvency
Legal v accounting treatment
Part 2 – Specific contracts - Securitisation; Receivables purchase
Sales of goods
Sales and leasebacks