Realization Of Security Interests In US Uniform Commercial Code

The concept of security right implementation in American law is that the Secured Party dispose collateral in the form of legal or agreed to eliminate the debt if the debtor is unable to repay when the debt expires or something agreed by the parties occurs. American law mainly taken private relief means to achieve security right, its Implementation of security rights is very flexible due to the agreement between the parties. "Uniform Commercial Code" Chapter 9 breaks the traditional old system and replacing the previous various ways of security which subject to the different laws with a unified concept of security. It produces a positive role that can not be ignored.Specifically, its advantages are mainly reflected in the following aspects: both idealism and realism; function of security for the applicable law standard; unified concept of security; Innovation and autonomy of specific rules. However,functionalism has its own birth defects and produces some contradictions: the contradictory of false behavior and determination of judges; the contradictory of formalism and anti-formalism; the contradictory of functional approach and the real right legal doctrine; the contradictory of economic development and poverty polarization. When the relevant provisions of US law on realization of security interests have been relatively stable and unified, our law on realization of security interests has been experiencing continuous development. The revision of the "Civil Procedure Law" in 2012 adds the contents of "realizing the real rights for security case", thus providing supports on procedural law for the realization of all kinds of security interest. In2015, the Supreme People’s Court issued a new "Civil Procedure judicial interpretation", making more detailed provisions of the existing realization of security interests from multiple levels, such as the main body of realization of security interests, the conditions of realization of security interests etc. Current law remains inadequate, however, the progress is evident, related blanks of system and the filling of vulnerabilities is the rule of law which any normal country must face. Private relief is an American label, public relief is the dominant in our country. How can we use two means in judicial practice to ensure the internal harmony of the whole legalsystem and the external tact is an important issue we currently face. Therefore, basing on the examination of the realization of security interests in the US and expanding on the discussion of the relevant system of law in our country are rational and necessary.