Consignments and the draft common frame of reference

TitleConsignments and the draft common frame of reference
Publication TypeJournal Article
AuthorsTajti, T.
Journal titlePravni Zapisi

Abstract: One of the novelties of Book IX of the most recent achievement of European
efforts aimed at harmonization of private laws, the Draft Common Frame of
Reference, concerns the subjection of some types of consignments to secured transactions
law. The paper endeavors to unearth, what main dilemmas are corollary to,
and what factors may justify transplantation of a solution from a system based on
‘functional approach’ – Article 9 of the American Uniform Commercial Code – into
a law predominantly still based on system thinking (legal dogmatism).

Key words: consignment, harmonization of European private law, Draft Common
Frame of Reference, Uniform Commercial Code of the United
States of America, consignment as a secured transaction, transplantation,
function approach, legal dogmatism, behavioral economics,
ostensible ownership (false wealth), purchase-money security interest,
priorities, trust receipts, second generation of financiers.

ISSNISSN 2217-2815
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