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Lorne D Crerar, THE LAW OF BANKING IN SCOTLAND Edinburgh: Tottel Publishing (www.tottelpublishing.com), 2nd edn, 2007. lxxiv +754 pp. ISBN 9781845921514 (pb). £105.

Document Cited authorities 12 Cited in Related
Vincent
DOI10.3366/E1364980908260488
Pages337-338
Published date01 May 2008
Date01 May 2008

For a small jurisdiction, Scotland can lay claim to a fair number of texts on banking law. In addition to the book under review, another recent text is N J M Grier's Banking Law in Scotland (2001). Older works are Wallace and McNeil's Banking Law (a long-standing text, the tenth edition of which was edited by D B Caskie and published in 1991) and C B Burns' The Law of Banking (2nd edn, 1983). Books such as these are important. As Niall Whitty has recently reminded us, disciplines such as banking law, insurance law or medical law are “contextual categories”: see “Rights of personality, property rights and the human body in Scots law” (2005) 9 EdinLR 194, 195.) The term was coined by Professor Birks: “Definition and division: a meditation on Institutes 3.13”, in P Birks (ed), The Classification of Obligations(1997) 1 at 33-34. As Birks said, “many specialist categories are formed by drawing together all the law relevant to this or that context”. Some of the law which makes up such categories is distinct to the category; much, however, is simply borrowed from the general law of the relevant jurisdiction, giving rise to a distinctive interplay in each system. It is therefore as important that there be books about Scots banking law (or the law of any other contextual category) as that there be texts about Scots contract, delict or property law. While certain aspects of banking law, such as regulation, are virtually uniform across the UK, in other areas Scots law has its own rules, such as those relating to rights in security.

This is the second edition of Lorne Crerar's The Law of Banking in Scotland. It is a lengthy and detailed work which, according to the back cover, is a “comprehensive guide providing an in-depth analysis of all matters relevant to bankers in both domestic and commercial banking operating in Scotland”. The first edition was published in 1997 and since then there have been numerous legal developments in the field. Important new UK statutes include the Financial Services and Markets Act 2000, the Proceeds of Crime Act 2002, the Enterprise Act 2002 and the Consumer Credit Act 2006. The Scottish Parliament has also been active. Of particular relevance to banking lawyers are the Mortgage Rights (Scotland) Act 2001 and the Debt Arrangement and Attachment (Scotland) Act 2002. Those parts of the text dealing with heritable property have had to be “de-feudalised” following the Abolition of Feudal Tenure (Scotland) Act 2000. There have been judicial...

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