Advanced #26 What is a security interest in French law? Introduction

Advanced #26 What is a security interest in French law? Introduction
Advanced #26 What is a security interest in French law? Introduction

Today I teach you how to define security interests in French my friend.

Advanced #26 What is a security interest in French law? Introduction
Advanced #26 What is a security interest in French law? Introduction
Advanced #26 What is a security interest in French law? Introduction
Advanced #26 What is a security interest in French law? Introduction

Une sûreté est “une prérogative superposée aux prérogatives ordinaires du créancier qui a pour finalité juridique exclusive de le protéger contre l’insolvabilité de son débiteur” (définition de Cabrillac et Mouly).

A security interest is “a prerogative superimposed on the ordinary prerogatives of the creditor whose sole legal purpose is to protect him against the insolvency of his debtor” (Cabrillac and Mouly definition).

Sans sûreté, le créancier est chirographaire selon l’article 2284 du Code civil : “Quiconque s’est obligé personnellement, est tenu de remplir son engagement sur tous ses biens mobiliers et immobiliers, présents et à venir.” C’est le droit de gage général du créancier.

Without any security interest, the creditor is unsecured according to article 2284 of the Civil Code: “Whoever is personally obligated, is bound to fulfill his commitment on all his movable and immovable property, present and to come.” It is the general right of pledge of the creditor.

Pour remédier aux insuffisances du droit de gage général, le créancier peut se faire consentir une ou plusieurs sûretés. L’objectif est d’accroître ses chances d’être payé.

To remedy the inadequacies of the general right of pledge, the creditor may be granted one or more security interests. The aim is to increase his chances of getting paid.

Les sûretés sont réelles (sur une chose, res en latin) ou personnelles (un tiers s’engage à payer la dette à côté du débiteur).

The security interests can be real (on a thing, res in Latin) or personal (a third party agrees to pay the debt alongside the debtor).

Published by Claire SAMUEL

My name is Claire and my mission is to teach you French with a smile my friend!

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