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Nemo dat quod non habet: Difference between revisions
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A [[Latin]] maxim of relevance to assignees and purchasers for value, which was roundly ignored by whoever the bright spark was who came up with the preposterous idea of [[rehypothecation]]. | A [[Latin]] maxim of relevance to assignees and purchasers for value, which was roundly ignored by whoever the bright spark was who came up with the preposterous idea of [[rehypothecation]]. | ||
It helps explain why having a right to assign transactioins under an {{isdama}}, even to someone in a shady jurisdiction, won’t interfere with your [[close-out netting|close out netting]] | |||
It is also useful in deflating drafting pretensions of people who come bearing gifts like “[[nor anyone acting on its behalf]]”. | It is also useful in deflating drafting pretensions of people who come bearing gifts like “[[nor anyone acting on its behalf]]”. | ||