Research On The System Of Mandatory Auction

Entering into the 20^th century, because of development of the society and growing demand of people's legal request judicial enforcement has become more and more frequent. As an important method of price change in judicial enforcement, auction mandated by the court is a typical type of judicial enforcement for the purpose of cleaning off debt. It is also an important component of the system of civil judicial enforcement of our country. Different from auction by will, auction of public properties and legal auction mandatory auction has such features as: subject not owned by the auctioneer, purpose not for the auctioneer, subject specific and rights and obligations not equal. Mandatory auction is an important part in realizing people's legitimate rights. Because of emphasizing on limiting the rights of enforcement the existing legal system of mandatory auction lacks rules on managing auction institutes and therefore such illegal activities as related-party transaction, bid-rigging, bidding collusion and even intervention of gangs happen quite often. These actions has eroded judicial integrity and damaged people's legitimate rights. So it's very urgent to strengthen the regulation and improve the legal system of mandatory auction. Starting from elaborating features and principles of mandatory auctions, based on introduction of the existing system of mandatory auction of our country and through comparing the differen practices of reform on mandatory auction of Shanghai and Chongqing this paper analyzes the defects of existing system of mandatory auction and provides some suggestions on improving the legal system of mandatory auction in the aspects such as selecting, supervising, assessing and firing of auction institutes and practicing auctions on the purpose of providing some realistic thoughts on improving the system of mandatory auction.