Research On System Of Ownership Reservation

Research on the System of Ownership Reservation Ownership reservation business, which has been quite popular in those western developed countries for a long time, is indispensable for promoting financing and guaranteeing business security. With China' s accession into WTO and its rapid economic progress, ownership reservation system will be increasingly important. This paper is mainly focused on this significant system.In the forward, this paper, starting with explaining the concept and functions of ownership reservation system, points out the necessity of researching this system on the basis of the insufficiencies in China' s legislation. Chapter One discusses the existence rationality of ownership reservation system through analyzing its development trend and particular functions as well as the shortcomings in other kinds of guarantee. Chapter Two, with the title of generality of ownership reservation, describes the legislation histories and the categories of ownership reservation in main countries, pointing out that both real property and some moveable property can be objects of ownership reservation. Chapter Three analyzes the legal characters of ownership reservation, which are likely to be different while seen from different angles. Ownership reservation is a transfer of ownership in cease condition from the angle of its transfer itself. The ownership reserved by sellers is a security interest with a target of restrictive ownershipfrom the angle the characteristics of ownership reserved by sellers. Chapter Four is concerned with the structure of ownership reserved rights. The first section of this chapter analyzes buyer' s interest in expectancy, which is considered a real right. Buyers' interest in expectancy can be transferred and transferees will get their ownership directly from sellers. The rule of bona fide possession protected and mala fide possession not protected should be applied to protection of the buyers' interest in expectancy and to the case of one thing sold twice, with a consideration at the meantime that interest in expectancy is registered or not, the target is real property or moveable property and the third party is bona fide or mala fide. In the case of aggression upon the third party' s right, both the interests of expectants and that of reservation ownership possessors should be equally protected. The second section in this chapter analyzes recall right of sellers. On the influence on the validity of business contracts, this paper holds that the exertion of recall right is to realize the contracts. It is believed that recall right of sellers comes down to the targets, resale of buyers their income, as well as accretion. Chapter Five, concentrated on the registration of ownership reservation, points out that the rule of registration for validity should be applied to the ownership reservation of real property, vehicles, watercraft and aerostats and the rule of registration for confrontation should be applied to that of moveable property. On the condition of not weakening the function public summon, registration of ownership reservation should be as concise as possible. In the epilogue, it is strongly recommended that concerned provisions on the ownership reservation be established and improved so as to guide practice and promote the economic development.