Document Type
Article
Publication Date
1999
ISSN
0739-2451
Publisher
Center for Banking Law Studies, Boston University School of Law
Language
en-US
Abstract
The road to securitization - transforming debt and loans into securities - is littered with obstacles. These obstacles seem unrelated. Yet, upon reflection, many legal and business problems arising in the securitization process can be traced to one source: the inherent conflict between contract law governing personal relations among creditors and debtors, and property law governing the same relations converted into "commodities" issued or traded in the market among investors. Identical terms can be characterized as contract loans in personal context, and as personal property (securities or bonds) in market context.
Recommended Citation
Tamar Frankel,
Securitization: The Conflict Between Personal and Market Law (Contract and Property)
,
in
18
Annual Review of Banking Law (now Review of Banking & Financial Law)
197
(1999).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/1008
