Titles in the Core Text series take the reader straight to the heart of the subject, providing focused, concise, and reliable guides for students at all levels. This chapter discusses the following: issue and credit; the concept of ‘credibility’; and bringing out the character of the parties and their witnesses. Evidence introduced to illuminate someone’s character is a fairly common feature in both civil and criminal trials. Considerable restrictions apply in criminal cases since the Criminal Justice Act 2003. According to the context, however, it may fulfil different purposes. Notably, it may serve as a potential indicator of whether or not someone is likely to be a truthful witness.
Chapter
6. Character and credibility
Chapter
11. Borrowing and security
This chapter considers borrowing as an important method of financing a company’s activities, and security as a right of recourse against company property if the loan is not repaid on time. It begins by discussing security for financial obligations, paying particular attention to security contracts, the redemption or discharge of security and the realisation of security. It then turns to the registration of non-possessory security contracts, the priorities of legal and equitable charges and floating charges as a form of security and their crystallisation. The extent to which the assets of a company, to which anyone is considering extending credit, are already charged as security is also explained. The chapter considers three particularly significant court cases: Evans v Rival Granite Quarries Ltd [1910] 2 KB 979; Re Spectrum Plus Ltd [2005] UKHL 41, [2005] 2 AC 680; and Re Yorkshire Woolcombers Association Ltd [1903] 2 Ch 284.
Chapter
21. Credit and security
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.
