Divergences of property law, an obstacle to the internal market?

The work is inspired by the comparative study by von Bar and Drobnig as published in “The Interaction of Contract Law and Tort and Property Law in Europe” (2004). Out of a transnational (comparative and EU-oriented) perspective the essays included discuss whether divergences of property law on contractual security rights in movables constitute an obstacle to the internal market and, if so, what solutions could be offered. Unification or harmonisation of private international law cannot offer an adequate solution, while unification of domestic security laws could. However, the latter will take a very long time, partly due to the specific nature of property law. The contributing authors support that process for the main part. Meanwhile they advocate the development of a European Security Right in Movables (ESRM) in addition to the respective contemporary national security rights. A real ESRM would clearly support free competition within the European Union. However, the development of an ESRM will take much time as well, keeping in mind that it also requires additional provisions, in particular on the relation between that ESRM on the one hand and domestic security rights in the member states on the other hand. In this book the reader will also find considerations on the contents of an ESRM and on the outlines of the required additional provisions.