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Bradgate's Commercial Law

Bradgate's Commercial Law (4th edn)

Reza Beheshti, Séverine Saintier, and Sean Thomas
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date: 12 November 2024

p. 49921. Credit and securitylocked

p. 49921. Credit and securitylocked

  • Reza Beheshti, Reza BeheshtiAssistant Professor in International Commercial Law, University of Nottingham
  • Séverine SaintierSéverine SaintierProfessor of Commercial Law, Cardiff University
  • , and Sean ThomasSean ThomasReader, University of York

Abstract

This chapter discusses the interplay between credit and security. In a commercial context, credit refers to a person's financial status or reputation for solvency or a sum of money owed from the bank's records. Additionally, credit facilities play a key role in financing the acquisition of goods and services or supporting general business activity. Credit is supplied whenever the payment of a debt is contractually deferred through either loan credit and sales credit or fixed sum and revolving credit. The chapter then provides an overview of the variety of arrangements developed to fulfil the creditor's desire for either real or personal security.

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