Abstract
Negative pledges are, quasi-security, covenants, the use of which are quite frequent both in English and Scottish law. The article, at first, discusses issues concerning legal nature of negative pledges. The subsequent parts of the paper are focused on effects of negative pledges on third parties with the aim to provide brief comparative analysis of English and Scottish jurisdictions. The author arrives at conclusion that, although in general negative pledges are rather weak tool in terms of security, they are supposed to be more efficient under the Scottish law in comparison to the English jurisdiction.
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