On Ordinary Creditor's Rights Hypothec

The laws of the main continental system of law of countries regard guarantee right of ordinary creditor's rights as a part of pledge, and apply mechanically movable property pledge theory and legal provisions, that is to say, setting up pledge of ordinary creditor's rights should shift ordinary creditor's rights possession, it should apply the movable property pledge provisions as having no regulation to the pledge of right. However, in accordance with shifting and possession this essential characteristic of pledge to examine ordinary creditor's rights pledge system ,we find ordinary creditor's rights pledge not only contradictes with the theory of shifting and possession, but also breakes away from life reality. To the notice of the effect to the third debtor, the great defect exists whether adopt the legislative example of the notice establish the important item doctrine or adopt the legislative example of the notice resist the important item doctrine. Meanwhile, I also find that the scholars' review to the functions of the ordinary creditor's rights guarantee right is biased. This text puts forward the idea of setting up the right hypothec system on the basis of review to the ordinary creditor's rights pledge system, it offer a new visual angle for establishing the system of scientific security Law. This text makes the guarantee right of ordinary creditor's rights included by the right hypothec, and make explain to its nature and characteristic, make objective evaluation to its functions, and make a try on how to set up the specific legal system of ordinary creditor's rights hypothec.