Secured Financing in Canada

The article sets forth a brief description of secured financing practices in Canada, with an indication of the respective roles taken by sales finance companies and chartered banks. Observations are made on the elements necessary for modern secured financing law and the extent to which these elements are found in the Ontario and Uniform Personal Property Security Acts. The barriers to the creation of a floating lien under cur rent law are also explored, as are the philosophical implications arising from a law which validates a floating lien.