Study On Leagl Issues Related To Court Ordered Auction Of Ship

Court ordered auction of vessel is one of the extremely special systems in Chinese admiralty practice. However, a large number of legal issues have arised in such practice out of identity of the vessel being recognized as a real estate despite of its free estate nature, high value of vessel, exclusive feature to the vessel arising out of maritime lien and other statutory rights against any other free estates and real estates, interference with the auction by localism, and no perfect law and regulation guiding such practice. Starting with a typical case in the recent judicial practice, this writer makes extensively exploration and research on issues in connection with concept, nature, subject and object of the auction, obligation of delivery, state's liability for compensation, letter of confirmation on transaction and so on, and then puts forward his viewpoints accordingly.