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Bijural Terminology Records
Common Law
security interest (create any)
Civil Law
hypothecate
Title of the Legislative Text
An Act to incorporate the Jules and Paul-Émile Léger Foundation, S.C. 1980-81-82-83, c. 85
Provision
4. The Foundation may, in furtherance of its objects,
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...
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(c) subject to terms, if any, under which the property was acquired, create any security interest in all or any property of the Foundation, owned or subsequently acquired to secure any obligation of the Foundation.
Problem
The term
"security interest"is a common law term. Although the corresponding term sûreté, used in the French version, is appropriate for civil law purposes, the term
"hypothecate"/hypothéquer more accurately reflects the civil law in both linguistic versions.
Solution
The term
"or hypothecate"is added to the English version and the term hypothéquer is added to the French version, for civil law purposes.
Harmonized Provision
4. The Foundation may, in furtherance of its objects,
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...
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(c) subject to the terms, if any, under which the property was acquired, create any security interest in, or hypothecate, all or any property of the Foundation, owned or subsequently acquired, to secure any obligation of the Foundation.
Federal Law-Civil Law Harmonization Act, No 1, S.C. 2001, c. 4, s. 96
