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The issue of true sale is one of immense importance in the finance markets, where billions of pounds are invested based on a given treatment of a transaction. At the heart of many structured finance transactions is some form of transfer of assets - usually a sale. Practitioners seek to ensure the robustness of this transfer because of concerns that courts might treat a transaction as a disguised loan or might unwind the transfer on the later insolvency of the transferor. Securitisation is the biggest market where this is a crucial issue; other structured finance transactions where assets are transferred to a special purpose company or are sent off balance sheet also use a true sale. This book raises issues of general law, applicable to many circumstances, as well as complex issues relating to insolvency and practical enforcement.