On Priority

Priority here, in a narrow sense, is a kind of security interests that special debtees enjoy on the part or all of the debtor's property directly according to the law, which includes the General priority , realty special priority and chattels special priority. Priority stems from Roman law. To answer the demand of the then society and to fulfill the real equality and uprightness, the Romans created the priority which was accepted and developed by France, Japan and so on. "Civil Code of France" juxtaposes priority and hypothec in the eighteenth chapter of the third part ways of acquiring property, which are both security interests. In France priority falls into four kinds which are general priority of chattels, general priority of realty, special priority of chattels and special priority of realty. "Civil Code of Japan" calls the priority as "Privilege" and places it in the eighth chapter of the part of property. In Japan privilege falls into three kinds: general privilege, realty special privilege and chattels special privilege. "Civil Code of Italy", "Civil Code of Holland" and "Civil Code of Marco" also have stipulations of priority. Although priority has no explicit place in the Civil Code of Germany and Taiwan, it came in to them in other forms. Priority is an ancient privilege born to protect the unprivileged. Modern civil law regards priority as a kind of security interests according directly to the law and gives the precedent right in compensation to some debtees regardless of the will of the interested parties. It reflects the criterion of values and the legislative policy, expresses the idea of pursuing real equality and uprightness of modern civil law. Now we are constructing the socialist market, and some underprivileged groups had and will continue to come into existence during the process but society cannot develop at the cost of the interests of the underprivileged people. So modern civil law of China must give sufficient concern to the underprivileged groups and give precedence to their essential living rights. Priority can play a important role in this field. Now we have only scattered clauses of priority, which have indefinite nature and week potency. So it is necessary to establish a unified priority system in the future civil code thereupon the potency of priority will be strengthened, which is good to protect the interests of the states and the underprivileged and to fulfill the real equality and uprightness . This thesis explored the definition, history, nature and potency of priority, and made suggestion on the legislation of priority. It has six chapters: an outline of priority, the nature and characteristics, the ways of acquiring and losing, potency and the improvement of the legislation.