Preface to the third edition

AuthorRonald C.C. Cuming/Catherine Walsh/Roderick J. Wood
ProfessionUniversity of Saskatchewan, College of Law/McGill University, Faculty of Law/University of Alberta, Faculty of Law
to the Third Edition
When the first edition of this b ook was published in 2005, all the com-
mon law provinces and terr itories had enacted a Personal Property Sec-
urity Act (PPSA). Our goal was to produce a comprehensive treatise on
secured financing u nder the Act. Other publications in the field, includ-
ing our own, had tended to focus on the PPSA of a part icular province,
often adopting an annotative or section-by-section commentar y struc-
ture. Although these approaches are valuable, we thought that a com-
prehensive treatise would convey more eectively the interrelationship
among the various part s of the Act as well as the es sentially unitary
character of secured financing law in all PPSA jurisdictions. While we
oer detailed analysis of the substantive dierences among the various
Acts, our initial in stinct that a comprehensive presentation was feasible
for most issues has worked out remarkably well in the w riting of the
first and successive editions of t he book. One of our objectives in adopt-
ing this approach was to contribute to the continued harmonization
of the law in this area by encouraging a vision of PPSA law, including
judicial precedent, as presumptively borderless.
The second edition of this book was published in 2012. That edition
considered several importa nt legislative changes. Amendments to the
Ontario PPSA that ca me into force in 2007 and 2010 brought it more in
line with the Acts i n the other PPSA jurisdictions, but also left it with sui
gener is feature s. The enactment of the Securities Transfer Act (STA) and
complementary PPSA amendments (and their Quebec equivalents) by
all jurisdict ions (except Prince Edward Island and Yukon) necessitated

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