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The starting point here, being a function of the [[common law]] of [[contract]], not to mention common sense is that every merchant is liable for its own costs and expenses of performing a contract, so if there are costs involved in running a collateral operation, as a general matter, they are for your own account. Where this might change is as a result of a pledge: if I deliver you an asset, to hold as collateral for my obligations, then if there are any costs on you on transfering it to you — the classic is a [[stamp duty]] or similar transfer tax — and you transferring it back to me, these should be for my account, for I get no benefit from incurring that cost. | |||
These considerations do not pertain to [[title transfer]] arrangements. Once you have the asset, it is yours. | |||
This is a not entirely ironclad justification, by theway - expecially when you take into account the effects of [[rehypothecation]]. | |||
==={{capitalise|{{sicsa}}s}}=== | ==={{capitalise|{{sicsa}}s}}=== | ||
How to deal with stamp duties is the subject of Paragraphs {{nyvmcsaprov|10(b)}} and {{nyvmcsaprov|10(c)}}, of which there is no equivalent in the English law document. <br> | How to deal with stamp duties is the subject of Paragraphs {{nyvmcsaprov|10(b)}} and {{nyvmcsaprov|10(c)}}, of which there is no equivalent in the English law document. <br> | ||
{{Csa Expenses summ {{{1}}}}} | {{Csa Expenses summ {{{1}}}}} | ||