Systematization Of The Bill Pledge Legal System

Compared to the ordinary rights pledge, the bill pledge has the following advantages: the process ofsetting up the pledge right is simple and convenient; it has greater market liquidity and is more secure.Thus it is favored in the market and plays a more important part in economy life. Since the bill has thespecialty of paper document—the bill can be a common certificate of ordinary right pledge—it also hasa distinguishing feature, that is the bill is under the regulation of The Guarantee Law, Property Law, Lawof Bills and notes and judicial interpretations of Law of Bills and notes.Since there are different regulationsfor the same system in different laws, thus the applicable law for the bill pledge is not so clear. Anddifferent applicable laws have different effects on the concerned party’s rights and obligations, which willrestrict the further development of the bill pledge as a financing guarantee method. We can see varioustopic selections, relevant scholars’ dissertations and masters’ papers about the bill pledge, but this paper isdifferent from all the above. From the macroscopic view，this paper emphasizes coordinating the outerlegislative system of the bill pledge. At the same time, find out the problems of inner legislative system ofthe bill pledge from the microscopic view. Then the purpose of writing this article is trying to find a propersolution to make the whole law system of bill pledge to be more harmonious.The article is divided into four parts. The first part mainly deals with the inner and outer legislativesystem of negotiable instrument pledge laws in our country. The inharmony of outer legislative systemdisplays the contradictions of special bill legislation——Law of Bills and notes and judicialinterpretations of Law of Bills and notes,and traditional civil law real rights for security on regulations ofbill pledge.And the contradictions of the inner legislative system refers to the special legislation on billsrelated the problems of the existing provisions conflicting on bill pledge.The second part has the functionof linking the preceding with the following, which mainly analyses the theory basis that leading to theconfliction of bill pledge legislative systems, thus offer a writing thought of the next part to solve theproblem.This part is to understand the cause of the root of this conflict, mainly from the differences of thevalue orientation about the civil and commercial legal norms, the academic circle having insufficientknowledge of bills characteristics,at the same time,investigating into the legislative background at that time,assisted by legal status analysis and the style of modern science thinking.The third part gives an exactexplanation of negotiable instrument pledge, and use the legislative form of bill pledge of other countriesfor reference to make a clear clue for the systematization of the bill pledge legal system. Part four givespersonal opinion about the systematization of the bill legal system.