What is the governing principle of property law in Scotland?
British Columbia, Canada
The following excerpt is from Abakhan & Associates Inc. v. Braydon Investments Ltd., 2008 BCSC 1547 (CanLII):
The governing principle was established in Mackay v. Douglas (1872), 41 L.J. Ch. 539, 26 L.T. 721, 20 W.R. 652, L.R. 14 Eq. 106 [cited to L.J. Ch.], where Vice-Chancellor Malins held at 543 that: A man who contemplates going into trade cannot on the eve of doing so take the bulk of his property out of the reach of those who may become his creditors in his trading operations.
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