Bijural Terminology Records

Common Law

assignment by way of security, charges on book debts

Civil Law

hypothec

Title of the Legislative Text

Bankruptcy and Insolvency Act, R.S.C. (1985), c. B-3

Provision

 94. (4) For the purposes of this section, "assignment" includes assignment by way of security and other charges on book debts.

Problem

In civil law in English, the notions of "assignment by way of security" and "charges on book debts" are obsolete and have been replaced by the mechanism of hypothecs on claims. However, these terms are maintained for purposes of common law. The same remarks apply to the phrases cession en garantie and autres charges sur les créances comptables which are maintained for a common law audience and correspond in civil law in French to hypothèque sur créance.

Solution

In the French version, the term hypothèque is added. In the English version, the term "hypothec" is added.

Harmonized Provision

 94. (4) For the purposes of this section, "assignment" includes assignment by way of security, hypothec and other charges on book debts.

Federal Law-Civil Law Harmonization Act, No. 1, S.C. 2001, c. 4, s. 29

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