The Rights of Account Holders
Elgar Financial Law series
This book attempted to explore and analyse the fundamental features and legal aspects of an emerging trend in commercial practice, which is the holding of assets in accounts with intermediaries. Such holding is a relatively new structural and legal phenomenon based on principles developed over the millennia. In the last couple of decades, the holding systems for rights to securities, funds and commodity contracts have become not only integrated within the commercial marketplace but have also overshadowed many other traditional areas of commercial law. Local and international legislators no longer attempt to modernize the law of negotiable instruments, payments by check, deposits, bailments or paperbased documents of title; instead their focus is gradually shifting to the law of account relationships.
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