Secured Transactions (LAW318H1F)

Note: The Quercus program will be used for this course. 

This course is concerned with the current Ontario law of secured transactions in personal property. It involves a detailed study of commonly used provisions in the Ontario Personal Property Security Act (OPPSA). As well, some key differences between the OPPSA and the corresponding laws in other provinces will be discussed. Elements of the following topics will be covered:

1. the nature and function of personal property security;
2. a brief overview of the history and policy of Ontario personal property security statutes and common law;
3. the policy and function of registration;
4. what information is required in order to properly register under the OPPSA;
5. how to read an OPPSA search result;
6. the validity of security agreements and the rights of the parties between themselves;
7. third party disputes (perfection and priority rules);
8. default and enforcement;
9. conflict of laws issues; and
10. characterization of certain types of agreements for OPPSA purposes. 

If time permits, this course will also explore issues relating to Bank Act security.