On The System Of Priority

The right of priority gets rid of the equality principal of law ofobligation,protects special social relations and the interests of vulnerable groups, andhas significant implications for the maintenance of social stability and order. Anycountry in the world exists areas where needs to be adjusted by priority. Even somecountries that haven’t yet established priority system also have an alternative system.But regardless of its form and appellation, its nature is a priority. China’s currentlegislations have no systematic provision of the system of priority. In fact, the rightof priority is distributed in statutory security interests, the special law and theprocedural law following the German practice. However, these fragmented laws andregulations did not meet the real needs of our country. Codification of the Civil Codehas been put on the agenda. It’s an opportunity to be taken to consider theintroduction of the priority system in our country in order to complete the chapter ofthe security interests.This paper is divided into five parts to explore the rights of priority:The first part is about the origin and historical development of the rights ofpriority. People’s knowledge of the priority system varies much, which caused a lotof controversy. Of which a major reason is that the Rights of priority showed adifferent attitude at different stages of development and different legislative models.In view of this, the paper will first introduce and explain the origin, development ofpriority and the situation of it’s heritance in the modern nations, which helps to findthe essence of the right of priority.The second part is an overview of priority. After a clear presentation of thehistorical context of priority, this paper elaborates the basic theoretical issues of thesystem of priority. First, lay out a clear definition of priority. Discriminate theconcept of priority and the related confusing concept. Define a reasonableness of theappellation of priority. Secondly, the nature of the priority has been emphaticallydiscussed. This paper defines the attribute of the priority as security interests. Then, on the basis of clear definition, analyze the characteristics of priority. Finally,combined legislation of various countries, introduces different species of priority inorder to provide a reference for our legislation.The third part is about to solve the problem of the validity of priority. First, thispaper summarized the content of validity of priority. Then focus on discussing thevalidity of the priority, involving the approach to solve the conflict between thepriority and the common claims, between the other security interest and the priority.This part is related to the design and selection of specific legislation, so it’s one ofthe main focuses of my paper. Based on the analysis and comparison of thelegislation of other countries, this paper provides a good reference for ourlegislation.The fourth part is to think about legislating on priority in China. To legislate onor to abolish the priority, it has been a long history. Although the “Property Law" didnot choose the priority system, it does not deny the necessity to establish a prioritysystem in China. Reviewing China’s existing legislative status of the system of thesecurity interests and system of the priority, there exist inadequacy of our existinglaws and regulations, which need to be improved.The fifth part is about the idea to build the system of priority. The fourth parthas discussed the necessity to establish a priority system in China. The next questionis how to build a system of priority. This paper has answered in the first place how tosolve the three major challenges faced by the legislating on the priority and lifted thetheoretical bound of the priority legislation. Then propose specific design oflegislation as a summary of the full paper.