On The Mortgage System And Its Legal Value

The right of pawn , the unique traditional institution of our country, has made an important effect on adjusting the relations of immovable properties during a quite long time. On the background of legislating civil law code today, it is very essential to review this old system . The article discusses the origin, evolution and character of pawn right, regarding it as a complicated form of civil transaction , not a pure right pattern. Next, the article introduces the fundamental contents of this institution, based on the civil law code of the Republic of China , including establishment, period, effect, and so on .After that, the author also compares pawn right with other similar legal institutions, analyze its law value, and points out that it should be remolded into an important way for civil law subjects to use other person's properties to create more fortunes on the condition of socialism market economy. According to this consideration, the paper puts forward its opinion of developing the pawn system in the end, maintaining that we should enlarge the range of the subjects and objects, and improve its registration way so as to expand its application, save the cost of transaction.