Pledge Of Rights Research

In almost every civil law system, where there is real security interest in intangible property rights, the pledge of the collateral is the only statutory instrument which the creditor can use to secure the debt. But difficulty remains in that intangible property rights by nature can not be physically possessed and accordingly perhaps no distinction lies between hypothec and pledge in terms 6f intangible collaterals. This thesis will prove, through comprehensive comparison among hypothec, pledge, security transfer, and set-off, that the distinction does exist.The paper consists of 8 chapters with 4 dealing with the value of the mechanism of pledge of rights and its fundamental theory and the later 4 focusing on the most-commonly-used property rights as collateral. The first chapter is to outline the core issue of this paper and give the structure and major theoretic approaches to doing this study. In a comparative way, Chapter 2 begins with the pledge of rights in Roman, French, German, Japanese, and common law as well. The following chapter continues and extends the comparative research deep into and among the various instruments of security, proves the value and advantages of using pledge. Chapter 4 explains the nature of pledge of rights and the collaterals eligible for pledge. It also examines the rules relating to pledge yet provided for in other parts of the laws and civil codes.The pledge of common obligation falls into the scope of Chapter 5, which perhaps is the most complicated part of this paper. I will try to solve the problem of inability of physical possession of rights when a pledge is created. Chapter 6 aims at the pledge of shares, one of the most pervasive secured transactions of financing, including the creation, validity and fulfillment of the pledge. Chapter 7 comes to the intellectual property rights. The pledge creation, validity and fulfillment are the major topics. The last chapter studies two special categories of collaterals which are tele-services rights and insurance policies.