oa De Rebus - Cessions of reversionary rights in book debts
|Article Title||Cessions of reversionary rights in book debts|
|© Publisher:||Law Society of South Africa|
|Publication Date||Nov 1983|
|Pages||526 - 530|
|Keyword(s)||Antecedentally ceded, Cessionary bank, Contractual intention, Dominium in cedent, Original transaction, Pledge of incorporeal, Practical value, Quasi possession, Reconciliation attempts, Retention monies claim, Reversionary right, Securitatem debiti, Security for debt and Tripartite agreement|
Cessions of book debts as security are commonplace instruments in the commercial world. What, however, is the precise legal standing of a cession to a creditor of the so-called ""reversionary"" rights or residual dominium of the cedent where the book debts as such have already been ceded to a first cessionary as security? The cedent is here endeavouring to cede as security to his second creditor, the residual value which may exist in his existing book debts after satisfaction of the debts due by him to his first creditor.
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