Based on factors such as party autonomy,balancing of interests among parties and the experience of comparative law,automatic extension should be the general principle for extending pledge rights to cover security interests in accounts receivable.However,applying the general principle should be restricted in special cases where the pledgee does not have a credible trust to protect,such as new security interests or guarantees established after the pledge of accounts receivable.
pledge of accounts receivableautomatic extensionparty autonomyinterest measurementtrust protection