Parker Hood is a lecturer in the Commercial Law team, in the School of Law.
Parker Hood's book on Principles of Lender Liability (OUP) was published in October 2012. This book concerns the liability of banks and other financial institutions for wrongful conduct towards customers and third parties, e.g., disclosing confidential information, giving negligent advice, selling secured assets at an undervalue, and breaching a contract by refusing to provide agreed finance. The basis of the book is English law and Scots law, although reference is made to other jurisdictions - especially Commonwealth countries.
Parker Hood teaches at: (i) Undergraduate level (company law); (ii) Honours level (Company Law, and Banking Law) and (iii) Postgraduate level (International Banking Law, and Company Law). He has supervised dissertations at LLM and Honours level, as well as at Ph D level. Parker Hood welcomes enquiries about Ph Ds on his areas of interest.
Parker Hood has given annual CPD Update Seminars on "Commercial Law" to the Legal Profession, in Edinburgh and Glasgow, since 1999 (apart from 2009 and 2011). These are done in conjunction with DP Sellar QC, who gives Updates on "Company Law" on the same programme. These are arranged through the University's Office of Lifelong Learning.
In November, 2007, Parker Hood gave a joint CPD seminar with his colleagues, Professor David Bennett and David Cabrelli, on the new provisions of the Companies Act 2006 to the profession in Edinburgh. He spoke on directors' duties.
Prior to that, in August, 2007, he gave a lecture about directors' duties under the Companies Act 2006 for Directorbank, at one day seminar, in Edinburgh, for prospective non-executive directors.
From 1997-2000, Parker Hood gave seminars, with his colleague, Professor MacQueen, and then Ms Marian Glen (then a corporate finance partner at Messrs Shepherd & Wedderburn LLP), on "Directors and the Law" for the Association of Management Education & Training in Scotland (on behalf of the Institute of Directors) and then the Institute of Directors.
In addition to this, Parker Hood is the editor of the Scots Law section of the Journal of Business Law. He is also a member of the Stair Society, a Scottish legal history group, and was, until 2010, a member of the Law Society of Scotland Obligations Committee.
From September, 2013, he has been the Director of the LLM in Commercial Law Programme. (He is currently on sabbatical, and so has temporarily relinquished his duties.)
In January, 2001, he was, briefly, a Visiting Professor at the University of Leuven, in Belgium, as part of the Socrates Programme. Whilst at Leuven, he gave lectures/talks on: (i) the differences between Scots law and English law; (ii) corporate insolvency under British law; and (iii) fiduciary duties.
He was the Director of the European Lawyers Programme ("Eurodevils") from 2008-2011.
Parker Hood has been in charge of the Edinburgh Centre for Commercial Law Seminar Programme since 2014/2015. The Programme forms an important part of the LLM in Commercial Law Programme, and the LLM in International Banking and Finance Law Programme. The speakers are interdisciplinary, and often international. Hence, the speakers are from the Law, Economics and Business. For example, the speakers have included: Professor Franklyn Allen (Wharton Business School, Penn/Imperial College, London); Professor Eilis Ferran (Cambridge Law Faculty); Ms Karina McTeague (Financial Conduct Authority, London); Snr Antonio Foglia (Belgravia Asset Management); Judge Forreste (European Court of Justice); and Professor Roberta Romano (Yale Law School).
In addition, Parker Hood has been the Director of the Edinburgh Centre for Commercial Law since September, 2017 (although he has relinquished his duties temporarily whilst he is currently on sabbatical).
(i) banking law - particularly, the banker/customer relationship, commercial loans, guarantees, and lender liability;
(ii) company law - particularly, directors' duties and minority shareholders;
(iii) the law of obligations - particularly, contractual damages and aspects of the law of unjustified enrichment; and
(iv) general commercial law - particularly, sale and hire of goods, finance leases, and some aspects of international trade law (esp letters of credit).
Business Entities (Ordinary) (Course Organiser)
Company Law (LLM) (Course Organiser)
Company Law (Honours) (Course Organiser)
Practice of International Banking and the Law (LLM) (Course Organiser)
Mohsin Al-Marri 'A Thesis on Investigation in Market Abuse in Qatar Financial Markets involving Kuwait'
Israel Cedillo Lazcano 'Legislative Challenges Relating to the Evolution of Money'
Books and Reports
Parker Hood, Principles of Lender Liability, (Oxford University Press, 2012)
Abstract: This comprehensive book begins with a consideration of the nature of the general banker-customer relationship, the obligations it poses and the issues relating to the commencement of the banking relationship. It provides individuals and companies with valuable guidance when assessing the risks in their relationship with banks, and vice versa.The following chapters allow all parties to consider carefully the central issues and underlying general principles that might arise by addressing the various activities undertaken by a lender. The duty of confidentiality, lenders as fiduciaries, the lender's duty to advise borrowers on the imprudence of transactions as well as fraud, and banks as constructive trustees and damages for breach of contract by a lender are all considered.The final chapters explore the duties of security holders and mortgagees of land, the liability of lenders for receivers they appoint, environmental liability and lender liability as shadow directors concerning wrongful trading.The book outlines liability in negligence and contract, with specific reference to existing case law concerning banks in this field from an English law perspective, and also Scottish and Commonwealth law, thus providing valuable applicability to the banking context for practitioners in other fields.
Hector MacQueen, Lord Hope of Craighead, M. B. Wise, S. P. L. Wolffe, A. R. W. Young, Parker Hood, Laura J. Dunlop, James Wolffe, David Johnston, Gloag & Henderson: The Law of Scotland, (W Green, 2001)
Parker Hood, 'Clayton's Case and Connected Matters ', (2013), Juridical Review, pp 501-39
Abstract: This article looks at the rule in Clayton's case concerning the operation of current accounts and the appropriation of payments to them. It also considers the impact of the rule in relation to lending and taking security (guarantees and charges); the potential problems which arise; and possible solutions to them.
Parker Hood, 'Directors' Duties Under the Companies Act 2006: Clarity or Confusion?', (2013), Journal of Corporate Law Studies, Vol 13, pp 1-48
Abstract: The Companies Act 2006 (CA 2006) codified the duties of directors. One of the main aims of this codification process was to increase the law's accessibility, coherence and comprehensibility to company directors, particularly directors of small and medium-sized enterprises. This article seeks to examine the nature of certain code provisions, and looks at how well the code achieves its objectives. The article focuses on four areas. First, the structure of the code is looked at, then the role of the old law is examined. This second area involves looking at section 178 of the CA 2006 on remedies, which applies the general law of remedies, and comparing it with section 195, which provides similar statutory remedies where the prohibition on “substantial property transactions“ has been breached. Thirdly, the ambit of the general codified duties is considered, which entails looking at section 170 of the CA 2006, which reasserts the rule that a director owes duties to the company she or he directs, and considers how section 170 interacts with section 172; consideration is also given to the requirement, in section 172(3), regarding the “interests of creditors“. Finally, the conflicts provisions (sections 175 and 177) are considered, as is section 176 of the CA 2006, concerning benefits received from third parties.
Parker Hood, ''A Stitch in Time?': Repairs and Rejection in Sale of Goods', (2008), Edinburgh Law Review, Vol 12, pp 316-21
Abstract: Section 35(6)(a) says there is no acceptance of goods (and, hence, no loss of the right to reject) where a defective good is repaired, pursuant to 'an arrangement with the seller'. However, what is the position where the seller, having repaired the goods, does not tell the buyer what the fault was or what was done to rectify it? In such a case, the House of Lords has held the buyer can still reject the goods, even where the seller says they are 'as good as new'. The basis for doing so was an implied term. Nonetheless, the reasoning is diverse, and it is the diversity of reasoning which is looked at.
Parker Hood, 'Commercial agents' compensation: England v Scotland?', (2007), Lloyd's Maritime and Commercial Law Quarterly, Vol 16, pp 144-51
Abstract: The different approaches taken by the Inner House and the Court of Appeal to the computation of compensation for Commercial Agents are compared and contrasted. The author favours the more analytical approach of the Court of Appeal, as it adheres more closely to the words of the 1993 Regulations and the Directive, than the two years' gross commission approach of the Court of Session.
Parker Hood, 'An Unsatisfactory Hire-Purchase ', (2007), Edinburgh Law Review, Vol 11, pp 421-26
Abstract: This note looks at the issue of satisfactory quality, under ss 10(2A)-10(2b) and 12A of the Supply of Goods (Implied Terms) Act 1973, for goods under a hire-purchase agreement. It also looks at the effect of warranties, rejection of goods and unjusitified enrichment due to use of the rejected goods.
Parker Hood, 'What is So Special about Being a Fiduciary? ', (2000), Edinburgh Law Review, Vol 4, pp 308-35
Abstract: The fiduciary label is not infrequently used. However, there has been little discussion of what it entails in Scots law, and what the consequences are of a party acting in breach of fiduciary duty. A fiduciary owes a duty of “loyalty” to his principal, which is a higher standard of conduct than a party in an “arm's length” transaction. This has the consequence that the remedies for breach of fiduciary duty are more severe. A fiduciary in breach of duty can be required to disgorge gains made as a result of that breach via a constructive trust and/or an account of profits. The constructive trust has, at times, received a somewhat hostile reception in Scots law, on two grounds. First, that it does not fit logically into the overall scheme of Scots law—being a creature of English law's Equity. Second, that it gives the beneficiary of such a trust an unfair priority in the fiduciary's insolvency, to the detriment of other creditors. However, as the constructive trust is a remedy to redress the unjustified enrichment of a fiduciary in breach of duty, its proper ‘home”, in Scots law, is the “enrichment family”, and not trusts. Moreover, by confining the constructive trust to breaches of fiduciary duty involving trust property, its impact on third parties will be reduced.
Parker Hood, 'Section 459 of the Companies Act 1985: A New Dawn or a False Sunrise?', (2000), Juridical Review, Vol 2000, pp 357-81
Parker Hood, 'Salomon's Case and the Single 'Business Organisation' ', (2000), Journal of Business Law
Parker Hood, 'Unjustified Enrichment in Scots Law: A Further Step Towards Rationalisation', (1998), Law Quarterly Review, Vol 114, pp 559-63
Parker Hood, 'Remoteness of Damage in Contract Revisited: Balfour Beatty v Scottish Power', (1996), Edinburgh Law Review, Vol 1, pp 127-35
Parker Hood, 'The Duties of a Standard Security Holder ', (1994), Journal of the Law Society of Scotland, Vol 39, pp 257
Abstract: This note looks at the obligations of a standard security holder, under s 25 of the Conveyancing and Feudal Reform (Scotland) Act 1970 to secure the best price that can reasonably be obtained and the case of Dick v Clydesdale Bank 1991 SC 365.
Parker Hood, 'Tracing, Constructive Trusts and Unjustified Enrichment ', (1994), Scots Law Times, pp 265-68
Abstract: This article deals with the use of the constructive trust in Scots law in the case of Southern Cross Commodities v Martin 1991 SLT 83, and argues that it is still applicable in Scots law
Parker Hood, 'Lender Liability under English Law ' in Ross Cranston (ed.) Banks, Liability, and Risk (Lloyd's of London Press Ltd 1995)