A Study Of The Ownership-Reserved System

Under the ownership-reserved system, the vendee in the trade can have and use the objects at first, but before the specified clauses in the contract signed by both the parties are fulfilled, the vender still reserves the ownership. The ownership is transferred to the vendee only upon the performance of the due duties. System of ownership-reserved has functions of both security and financing. It is superior to other means of guarantee. So it has widely been used in Europe and America since the 19^th century. Nowadays in China, three provisions about the conditional transferring of ownership are listed in the lately enacted Civil Law and Contract Law, and these regulations can be viewed as part of this system. But only three provisions do not suffice to constitute a complete system of reservation of ownership.This thesis consults and uses for reference many correlative provisions in German law, French law, Japanese law, American law and Taiwan area's law. Relating them with our country's reality, the thesis mainly discusses about the nature of the Reservation of Ownership, the legal force of debt guarantee and the contradictory rights in ownership transferring.This thesis offers its own opinions on the following six aspects of the ownership-reserved system after discussing about them: the nature, the categories the establishing act and form, registration resistance, and^ the rights and obligations of the ownership-reserved system. The category of this system includes simple reservation of ownership, extending reservation of ownership, enlarging reservation of ownership, compounding reservation of ownership. The act which establishes the system should be made in written form. This system is only established on the movables, and it removes special properties which need to be registered such as cars, ships, planes, etc. the vender has the rights of recalling and rebuying his matter. There are three theories about the nature of the vender's recalling rights, but the writer thinks that the one that the vender owns his matter due to ownership is reasonable. The vendee's expectative rights are not a creditor's rights or an owner's rights but rights that the vendee expects to get the ownership. About the condition and procedure of recalling rights, we may borrow the relevant provisions of Taiwan area law. The effect of the transferring system should take the registration resistance mode. We should adopt public summons method under the principle of registration against the thirdparty.