ABSTRACT
This chapter considers the particular context of commercial transactions replete with their own technical language, their own norms and their own objectives when they come into contact with equity. It also considers the differences in approach from commercial law, equity, the law of property, partnership law and company law. The standard market documentation and the jargon used in financial derivatives markets are very good examples of this phenomenon of the conflict between legal norms and commercial norms. The parties' principal intention will be the investment contract between them. By reducing the trust from the level of a proprietary relationship, as traditionally understood in the English tradition in cases such as Saunders v Vautier. The secured interest would be impossible without the trust, and a more flexible form of secured interest over a changeable fund of property would have been impossible without equity's development of the floating charge.
