Obligations
SLC Consultation Paper on the Consolidation of Bankruptcy
Legislation in Scotland
The consultation invites views on a number of proposed
changes to the The Bankruptcy (Scotland) Act
1985. The changes relate to matters of technical
detail and are intended to remove anomalies, treat like cases in
the same way or to omit provisions that no longer serve any
purpose. The aim is to pave the way for a new and more
accessible legislative framework governing bankruptcy in Scotland.
It also invites suggestions for other amendments which would
seek to tidy up (as opposed to reform) the 1985 Act.
SLC Discussion Paper on Moveable Transactions
The Obligations committee, along with the
intellectual property and banking commitees responded to this
discussion paper which looks at at three
connected areas of law, all important to the
smooth running of the Scottish economy. In all three areas Scots
law appears to be out of date, and insufficiently
business-friendly. From an international perspective current Scots
law would appear to be in need of radical reform.
- The transfer of financial rights (ie a creditor
transferring the right to payment, so that the debtor will have a
new creditor).
- Security over corporeal moveable property. ("Security"
means security for a debt.) Although Scots law, like other systems,
allows security by delivery to the lender (eg handing over a gold
watch to a pawnbroker), there are legal hurdles in the way of
non-possessory security.
- Security over incorporeal moveable property. Here too the
current law would seem to be capable of considerable
improvement.
The Discussion Paper discusses the current law, identifies its
shortcomings, and suggests possible ways forward.
Proposed EU Regulation creating a European Account Preservation
Order to facilitate cross-border recovery in civil and commercial
matters
The European Commission published a proposed Regulation
creating a European Account Preservation Order (EAPO) to facilitate
cross-border debt recovery in civil and commercial matters. This
consultation, published by the Ministry of Justice (MOJ), seeks
views on whether it is in the UK's national interests to be a party
to this Regulation, i.e. whether the UK should opt in to the
proposal or not and/or be party to the forthcoming
negotiations.
European Contract Law Feasibility Study
This review follows on from the EU Green Paper on Contract Law
which the Society's Obligations committee submitted a response to
at the beginning of the year.
An expert group established by the European Commission compiled
this study which covers the most relevant practical issues in a
contractual relationship, such as legal rights for faulty goods and
rules on which contract terms may be unfair.
Review of Contract Law - Discussion Paper on Interpretation of
Contract
This Scottish Law Commission (SLC) Discussion Paper is the first
publication in a new project reviewing contract law. The project
began early in 2010.
The SLC propose to review the law of contract in the light of
the publication in 2009 of the Draft Common Frame of Reference:
Principles, Definitions and Model Rules of European Private Law
(the DCFR). The DCFR provides a contemporary statement of contract
law, based on comparative research from across the European Union
and written in accessible and non-archaic English.
EU Commission Green Paper: towards a European Contract Law
for consumers and businesses
The purpose of this Green Paper is to
set out the options for developing EU contract law to
strengthen the internal market by making cross-border
transactions more straightforward.