Title transfer collateral arrangements under the Personal Property Securities Act 2009 (Cth): paper I setting the scene

Abstract

This paper outlines the research questions covered in this issue of the Journal of Contract Law by way of introduction to the detailed analysis of title transfer collateral arrangements as PPSA security interests in Papers II and III. It also shows how these research questions, while directed to particular types of financial markets transactions, can nonetheless offer a more general case study for exploring the scope of the PPSA that is relevant to all commercial lawyers, including contract lawyers. Of particular interest to the latter is the impact of the legislative functional approach on the intentions of contracting parties. The statutory characterisation of the contract as a security agreement imposes restraints on the parties’ freedom to contract and establishes formal criteria for its enforcement, while also focusing attention on what additional content should be included in it.