Assignment by way of security: Difference between revisions

{{a|security|}}

Not hitherto commonly known as an [[ABWOS]] even though it jolly well ought to be.

Not unless you’re the sort of person who wears two pairs of underpants in case the first fails.<ref>“That old man, despite all the hardships, still manages to put on a clean pair of underpants every day. And, you know? By the end of the week, he can’t get his trousers on.”—From ''There’s no land like Po-land'' by the redoubtable ''Not The Nine O’Clock News'' team.</ref> Both are [[Equitable security|equitable interests]], but a fixed charge is more formal. The problem with a [[fixed charge]] is that it requires control over the asset (an actual thing) being charged: that is easy enough if you can take possession of it (prime brokers: hooray!), but if you can’t - if it is some vague right the debtor has to be paid money at a later date - then your [[fixed charge]] might wind up looking a bit like a [[Floating charge|floating]] charge, which means you may wind up behind other people in the queue.