Study On Legal System Of Pawn

As an important way of financing, pawn finds its historical presence for long in China and other nations. It deserves specifying that"pawn"is defined with multi-definitions by individual countries around the world; in this thesis,"pawn"is introduced and translated as an equivalence to"典当(Dian Dang)"in Chinese with regard to the almost closest practical function of the word exhibited in the said two languages. Pawn, being a significant financing method, is featured by its convenience and high efficiency, which plays a critical role in social economic development as well as facilitating people's life. Accordingly, Chongqing being the target for investigation, the overall thesis provides a tentative study on the legal system of pawn in a logical order of"Introduction","Fundamental Theories on Pawn","Investigation Report on Pawn Broking in Practice","Legislative Process on Pawn, the Limitations Therein and Proposals for Improvements".The author has traced the history and evolution of pawning in the introductory part. According to the existing historical documents, the word"Pawn"was first created in Biography of Liu Yu in the History of the Later Han Dynasty written by Fan Ye in the Southern Song Dynasty. To sum up, pawn in China was historically budded in the Two Han Dynasties at the very beginning, instituted from the repositories of temples in the Southern Dynasty, practiced as the five repositories in Tang, popularized in Northern Song and Southern Song, flourished in Ming and Qing, declined in late Qing and the early Republican period and revived upon the present reforms in new China.In the body part, chapter one frames out the fundamental theories of pawning. In the thesis, an in-depth analysis on the legal relationships generated in pawn is conducted, with the nature and characteristics, the creation and termination of the legal relationships therein, moreover the divergences between pawning and alike legal systems being exhaustively elaborated. To be specific, pawning shall be a kind of security interest of special nature; in terms of legal characteristic of pawning, pawnshop shall be a chartered enterprise legal person; where a pawnage happens to be a chattel, such pawnage shall be the property legally possessed by the pawner and born no other rights; the provisions on fluidity contract is not applicable to pawn broking; the process involved in pawning is a combination of both"lending"and"pawning", in which the legal relationship in pawn is created upon the consensus between the pawnee and pawner and the delivery of pawnage by the pawner, and terminated due to redeeming or expired pawning.The second chapter is an investigation report on pawn broking in practice. Taking Chongqing city as the object for research, a thorough investigation on the entire Chongqing's pawn broking is completed, including public perception towards pawning, operation procedures of pawning, characteristics, functions and role of pawning, comparisons between financing through pawning and other financing methods, development and problems existed in the pawn industry in Chongqing and so on. Upon painstaking investigation, the author finds that the pawn industry in the city is gaining rapid development in recent years in not only a relatively large number but also in expanding business scopes. Operation of pawning consists of six aspects, namely examination, verification, acceptance, redeeming, expiration and disposition of pawn. Pawning, featured by its small amount of money, short term, high interest rate, commercialized character and convenience together with functions of guarantee, financing, deposit of pawnage and merchandising, has made incredible contributions to the people's life and economic development, as such an industry is quite beneficial in helping people temporarily from financial difficulties and justifying allocation of resources. In addition to the above-mentioned advantages, pawning, being a method of financing, carries a more convenient and serving nature than other means of financing.Chapter three mainly touches upon the legislative process, the limitations therein and proposals for improvements as far as pawning concerned. The author has sorted out from and investigated into the four legislations relating pawning formulated since the year 1993 their legislative roots, evolutionary processes, some inadequacies and limitations, and put out a tentative attempt to offer proposals about the future legislation on pawn, that is to say, the Standing Committee of the National People's Congress shall promulgate special pawn law while ministries of central government formulate related implementing rules thereupon. As for the detailed provisions of the legislation, the legislators must strive for a correct acknowledgement and clear definition of relationship generated in pawning, formulating qualification system for being engaged in pawn industry and improving the evaluation system for pawnage.