Lionel Smith (McGill University, Faculty of Law, Paul-André Crépeau Centre for Private and Comparative Law) has posted Powership and Its Objects (A. Steven, R. Anderson and J. MacLeod, eds., Essays in Honour of George Gretton (Avizandum, Forthcoming)) on SSRN. Here is the abstract:
In an important essay of 2007, called "Ownership and its Objects", George Gretton asked what was the "object" of a right of ownership: do we own things, or rights? He also went on to discuss the nature of security interests, taking the view that they are subsidiary rights carved out of the rights of the debtor. In this essay, I apply a Hohfeldian analysis to security interests, and conclude that the most important incidents of a security interest are not rights but powers.