Study On Chattel Mortgage

The system of chattel mortgage meets with the urgent needs to financing, so the mortgage law of the Republic of China legislates the regulation on chattel mortgage as well, but the regulation also has many drawbacks. The author tries to discuss on how to improve it by researching the public notice principle and the settlement of conflict of right. This paper consists of five sections besides the foreword and the conclusion.The first section introduces the conception of chattel mortgage, the difference between chattel mortgage and chattel pledge, as well as transferring guarantee. The author holds that the most important nature of chattel mortgage is the real right. The second section includes the introduction of the historical evolution of chattel mortgage from the Roman law and the Germanic law at first, the general probe into the different nations'attitudes to the chattel mortgage, such as Germany, Japan and U.S.A, etc. At the end of this section, the author introduces the history of chattel mortgage in our country.The third section is the comment on the value of the chattel mortgage system. Lacking of terms of the public notice is the inherent disadvantage of mortgage system, which causes other disadvantages of this system. But the system also has its own advantages.The fourth section concerns on the regulation of the public notice. This section is the key of this paper. It introduces five choices of public notice at first, then it focus on the comparison between the doctrine of registering to prove the right and the doctrine of registering to exclude other's right. The conclusion is that doctrine of registering to prove the right has the natural defects in theory which cannot be overcome and doctrine of registering to exclude other's right is the better choice. At the same time, the author thinks that proper introduction of branding or engraving is also helpful. The limitation about the range of mortgage and the efficiency of the public notice is also necessary.The last section focus on the rules to settle the conflicts among multiple real rights. The authors suggests that the right comes into existence fist is superior, but it must be treated differently with regard to the different real rights.