Historical Study On Secured Priority

Secured priority is one of the most popular topics in the academic world in our country; therefore, most aspects of it, especially its coverage and exception, have been studied fully and sufficiently. However, the fundamental theory of secured priority, which is the justification of the priority of security, has not got much attention in the research. This Article attempts to justify the priority of security and limit it in a certain degree; and on the basis of this to infer the future of the development of secured priority.The consecution of this Article is inductive. The content and structure thereof shall be as follows:Chapterâ… gives us a definition of secured priority and depicts the difference of secured priority and priority; then sums up the works done by the native scholars;Chapterâ…¡introduce the history of the development of secured priority and aim at the preparation of the next two chapters by clarifying the skeleton of the development of the system of secured priority;Chapterâ…¢sum up the development of secured priority as five currencies, including the strengthening of security public summons, broadening of coverage of secured property, the order of secured creditors, the demise of Security Transfers and the prohibition of Fluidity Contract;Chapterâ…£further the study beyond the discussion above by explore the economic and legal reasons for the currencies;In the Conclusion, the Article discusses the recently-proposed theory, that is reservation for unsecured creditor's benefit, which justifies the discussion above and the theory of this Article is practical.