Preface to the FIRST Edition

AuthorRonald C.C. Cuming, Catherine Walsh, Roderick Wood
Secured transactions under the Personal Property Security Act (PP SA)
are at the forefront of commercial law in both law facult y curricula
and legal practice in common law jurisdictions of Canada. This book
responds to what the authors believe to be a long-standing need for
a comprehensive treatise on secured f‌inancing under the Act. Other
publications in the f‌ield, including our own, have tended to focus on
the PPSA of a particular prov ince or adopted an annotative or section-
by-section commentary style. Although these approaches are valuable,
we felt that a Canada-wide treat ise style treatment would convey more
effectively the interrelationship among the various parts of the Act as
well as the essentially unitar y character of secured lending law in all
PPSA jurisdictions. Whi le we offer detailed analysis of the subst antive
differences among the various Acts, our initial instinct that a compre-
hensive presentation was feasible for most issues worked out remark-
ably well in the writing of this book. One of our goals in adopting this
approach was to contribute to the continued harmoni zation of the law
in this area by encouraging a vision of PPSA law, including judicial
precedent, as generally borderless in character.
This book is essenti ally a doctrinal work. We have identif‌ied the
policy rationales for particular provisions where relevant to their inter-
pretation and we have included the occasional ca ll for reform of particu-
lar areas. Nonetheless, the book does not analyze, let alone challenge,
the broader underlying economic or social theory of secured lending.
Our goal was to present what we hope to be an accurate and complete
account of the current state of the law of secured tr ansactions under the
PPSA. We trust it will prove to be very valuable to law student s and law

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