Secured Credit drives economic activity. Under English Law it is possible to create security over almost any asset, but the law is widely considered to be unsatisfactory for several reasons, including a cumbersome registration system, a preoccupation with formalistic distinctions and the lack of clear and rationally-determined priority rules. Gerard McCormack examines the current state of English law highlighting its weaknesses. He uses Article 9 of the American Uniform Commercial Code as a reference point: this Article has successfully serviced the world's largest economy for over 40 years and is increasingly used as the basis for legislation by Commonwealth jurisdictions including Canada and New Zealand. The Law Commission has suggested the enactment of similar legislation in England. In addition, McCormack considers if there really is a case for the priority of secured credit, as well as if there are other international models to draw upon. Contains the text of Article 9.

'One of the many attractions of Secured Credit under English and American Law is that it provides a single source from which to gauge and evaluate the current controversies in a complex area of law. It is a straightforward comparative guide to the complex subject of English and American credit and security laws with a clear explanation of the law and a practical guidance on its implementation. It is highly recommended and is essential for anyone interested in this branch of law to read and make use of this valuable piece, which explores and compares fundamental concepts of secured credit under English and American law.'

Source: Journal of International Trade Law & Policy

'… excellent … This is surely his finest work … The book is direct in focus, solid in research, and simple in language. It is a must-read.'

Source: India Law & International Resources

'… a timely book …this is a useful book … This is the first book that considers English and American law on secured credit at some length.'

Source: Journal of International Banking Law and Regulation