1. Introduction

The Special Position of Financial Law

The Choice ofTopics

2. Money

The Importance of Understanding Money

The Nature of Money

The Statutory Treatment of Money

Money in the Courts

The European Single Currency

The Ability of States to Control the Use of their Money

3. Payment

Payment as the Discharge of an Obligation to Pay Money

Payment as the Transmission of Money

4. Personal and Property Rights

The Importance of the Distinction

The Nature of the Distinction

The Distinction in Practice

Multiple Ownership

Structuring SecuriArrangements

5. Intangibles as Property

Choses in Action and Choses in Possession

Things which are Choses in Action

The Nature of a Chose in Action

Dealings with Choses in Action

Hybrid Rights

6. The Legal Nature of the International Bond Market

Introduction

The Bond Market Pre-History

Post- World War Ⅱ

Immobilization and the Modern Era

Legal Analysis of Bond Structures

Dematerialization

7. Fiduciary Duties and How They Arise

The Perceived Risk

The Fiduciary Relationship

The Existence of a Fiduciary Relationship

The Nature of Fiduciary Duties

Summary

8. Fiduciary Duties in Financial Markets

Introduction

Fiduciary Duties in Commercial Transactions

Fiduciary Duties in Financial Transactions

Regulatory Rules for Retail Customers

9. Credit Support in Financial Markets

Multiple Obligors

Contracts of Suretyship

‘Almost Guarantees’ and Comfort Letters

Commercial Credit Support

Subordination

10. Security Interests

Reasons for Taking Security

Terminology

Registration

Kinds of Security

Reverse Security

11. The Construction of Financial Contracts

The Common Law and Civil Law Approaches

The Difference between Meaning and Effect

The Meaning of Contracts

Implied Terms

Index