Do Not Ex Study

Bankruptcy Law is to allocate the bankrupt's properties to creditors and obliges. However, as to distribution of the bankruptcy properties, the Bankruptcy Law does not distribute properties in proportion according to creditors and obliges' request in practice, but differs with different droit characters. Exemption right is a special kind of right in bankruptcy procedure. It is independent of the bankruptcy procedure, and its exertion is restricted neither to the regulation of "the people's court must terminate the other civil execution to debtor's properties when she has accepted and heard a bankruptcy case" and "the discharge is invalidate to some creditors", nor to the creditor committee and the debtors' amicable settlements. On the other hand, it has superiority compared to credits discharge. Exemption right owner has the rights of anytime, separateness and first compensated. Define and exertion to the Exemption right in the Bankruptcy Law is not only important to creditors, but also propitious to vindicate creditors' justifiable interests fairly. Nevertheless, there are very few regulations on the Exemption right in our present Law, and there are still many problems about judicature explain, and its force adeffects are very weak. A thorough study on the Exemption right will perfect corresponding legislation and judiciary.This dissertation describes the Exemption right in three sections:First, attribution of exemption right.. As a priority in bankruptcy system, the fundamental of the Exemption right is legal special right, whose theme is bankrupt's special properties. The article puts out that the essence of the Exemption right is to secure hypothec extension in bankruptcy.Second, the basic rights of exemption right. This part comprehensively analyses some possible fundamental rights of exemption right. In combination of national and international regulations of basic special rights in Bankruptcy Law, it expatiates the Specialty's power range, then studies both representative hypothec, mortgage and lien as possible basic special rights, and non- representative priority, relinquish hypothec, ownership hold, pledge, creditors' common rights. Finally it argues that earnest money cannot be basic rights of Specialty.Last, exertion of exemption right.. In this section, the author shows the submission and affirmance of Specialty, and studies the corresponding aspects of superiority and restriction. The author also investigates the different realization approaches to formation of different special rights. In the end, the author makes a research on the sequence of discharge includingsequence of same and different kinds of Specialties.Generally, this dissertation makes a comprehensive discussion on exemption right.. The author puts forward his attitudes and perspectives in order to expand academic study to develop and perfect the exemption right..