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The Reluctance Of Civil Law Systems In Adopting The Ucc Article 9 “Without Breach Of Peace” Standard—Evidence From National And International Legal Instruments Governing Secured Transactions, Asress Adimi Gikay, Cătălin Gabriel Stănescu
The Reluctance Of Civil Law Systems In Adopting The Ucc Article 9 “Without Breach Of Peace” Standard—Evidence From National And International Legal Instruments Governing Secured Transactions, Asress Adimi Gikay, Cătălin Gabriel Stănescu
Journal of Civil Law Studies
One of the defining features of the Uniform Commercial Code Article 9 is the secured creditor’s ability to take possession of the collateral upon the debtor’s default “without breach of peace.” This standard is meant to protect the debtor from abusive secured creditors, the meaning of which has been shaped by courts on a case-by-case basis.
In reforming their secured transactions laws to enhance access to credit, continental legal systems have shown great reception to Article 9 by adopting the unitary concept and functional approach to security interests, introducing private enforcement mechanisms, including various forms of self-help repossession. However, the …