On Essence Of Security

Background and the principal viewpoints: based on the thoroughly all-around review on the Theory about the Real Right of Security, this thesis points out that the security, including agreed and legal, in aid of payment, which belongs to the efficacy of creditor's claim, with the function of enhancement by priority or expanded general property, is not the real right.Five main parts: Part I , points out why the theory about the Real Right of Security can' t justify itself. Part II, through studying the relation between security and secured creditor' s claim, conclusion that the essence of security being the efficacy of creditor' s claim is reached. PartHI, by comparison between Real Security and the Real Right, the essence of security is further expatiated. Part IV, through comparison of priority and security, the nature and significance of security are elucidated. PartV, tabling a proposal for legislation is an advice that security efficacy of creditor' s claim should be placed in the Obligation Law of the Civil Code.Achievements and significances: Firstly, redefining the essence of security which originates from the relation between security and the secured creditor' s claim. Secondly, reconstructing the theoretical system of security to bring all kinds of security efficacy of creditor' s claim into security, in this way, securities are unified, which intensifies the consistency of Guarantee, Earnest Money and the Real Security, and puts the Priority, General Security and Setoff into security system. Thirdly, enriching the theory of efficacy of creditor' s claim, and resolving the argument on prior nature of General Security. Fourthly, locating the legislation of security efficacy properly, put the security efficacy of creditor' s claim into the Obligation Law, which makes the credits' order defined easily, reduces the ambiguities and the conflicts of legislation, directs the trade behaviors among parties, maintains trade safety efficiently, and protects the legal anticipation.