The Future of Reservation of Title Clauses in the European Community
Bibliographic Data
| ID | 9927779 |
|---|---|
| Authors | Giorgio Monti (0000-0001-7719-0920, corresponding author), Gilles Nejman, Wolf J Reuter |
| Year | 1997 |
| Volume | 46 |
| Issue | 4 |
| Pages | 866-907 |
| Publication date | 1997-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International and Comparative Law Quarterly (JOURNAL) |
| Journal identifiers | ISSN: 0020-5893 • E-ISSN: 1471-6895 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0020589300061248 |
| OpenAlex | W2086344742 |
| Language | EN |
| Citations received | 3 |
| References cited | 15 |
In an economic climate plagued by the risk of insolvency, sellers will not wish to sell unless they can be sure of getting paid. At the same time most sellers would go out of business if they asked for cash on delivery and did not sell on credit. In Europe one way to combine these conflicting business realities is by selling goods subject to a reservation of title clause or a clause de réserve de propriété or an Eigentumsvorbehalt (hereafter RTC). An RTC may be defined as “merely an agreement between the parties as to the time when ownership is to pass”. By reserving title in the goods sold until they are paid for, it ensures that goods revert to the seller in case of the buyer's insolvency, and hence escape from the hands of the liquidator. The sale fails but the seller's losses are minimised. This is particularly important in the current context of insolvency practice where the legal order for the distribution of assets is very unfavourable to the supplier of goods who does not use an RTC. As an unsecured creditor he will receive any money owed only after the costs of the insolvency procedure and the shares of preferential and secured creditors are subtracted from the assets. He will, in the blunt words of Templemann LJ, ‘receive a raw deal’
Business · Cash · Commerce · Context (archaeology · Creditor · Debt · Economics · Insolvency · Law and economics · Order (exchange · Political science · Reservation · Corporate Governance and Law · Corporate Insolvency and Governance · European and International Contract Law · Finance · Law
An introduction to comparative law
The social construction of reality
The Morality of Freedom
Reservation of Title Clauses
Some European Decisions on Non-Possessory Security Rights in Private International Law
Retention of Title to the Sale of Goods Under European Law
European Legal Systems are not Converging
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,11 |
| Citation span | 1999 - 2011 (13) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |