Legal Nature Of Warehouse Receipts

From receipts with single function to financial instruments that can circulate in market,the function of warehouse receipts became more and more diversified in trade links and circulation field,which made it become important objects of legal regulations.The "Qingdao Port of Warehouse Receipts Fraud" case which happened in 2014 has exposed a series of loopholes in law and system of warehouse receipts in our country and the hidden risks of warehouse receipts market in China.In order to study the warehouse receipts more comprehensive,promote the circulation of the warehouse receipts,and make the development of the warehouse receipts market more healthy under the regulation of law in our country,this article will begin with the "Qingdao Port of Warehouse Receipts Fraud" case and analysis the legal nature of warehouse receipts comprehensively.From the perspective of comparative law,this article mainly references and contrasts the legislation and theory of warehouse receipts in America,combining cases and theory,and then giving proposed about warehouse receipts regulation from the aspects of legislation and trading.In this paper,the text is divided into three parts.The first part is the overview of warehouse receipts.In this part,the article will analysis the basic nature of warehouse receipts comprehensively from the following four aspects: definition,classification and transaction process,the historical development,and conceptual distinctions.This part focuses on the documents of title nature of warehouse receipts,the classification of warehouse receipts and their different transaction process,and the development of warehouse receipts,from the perspective of which this part discusses the function changes in the market of warehouse receipts.Based on the locality nature and combined with the comparative method,especially the typical American legislative cases,the second part discusses the legal nature of warehouse receipts comprehensively.The last part of this article analyzes the "Qingdao Port of Warehouse Receipts Fraud" case again,and combined with the legal nature of warehouse receipts,this part analyzes the insufficient points of law and system of warehouse receipts in our country from the aspect of legislation and transaction and gives suggestions.The author hopes that through the study of legal nature of warehouse receipts,focusing on the essence of practice development,we can shape the development of warehouse receipts market by regulations.