Research On The Effective Elements Of The Margin Account Pledge

In recent years, the margin account pledge is developing rapidly as a new type of security in the practice field. Agricultural Development Bank Anhui branch v. Zhangdabiao and Changjiang Company is a typical case about the margin account pledge. The main controversy is including whether the margin account pledge needs specific content or form, how to identify margin account pledge specialization, and whether the account opened in the name of the pledgor influences the transfer of the possession. In this paper, Agricultural Development Bank Anhui branch v. Zhangdabiao and Changjiang Company is used as an example, the arguments and the controversy in the case are used as clues, it mainly researches on the effective elements of the margin account pledge. In the pledge agreement part, it discusses the content needs to include additional content about the margin account specialization, the margin account pledge is not in violation of the numerus clauses, and the pledge agreement shall not contain the fluidity contract. The form of the pledge agreement has no special requirement.In the margin account specialization part, it discusses the characteristics of the margin account, the recognition method of the margin account specialization. The concept of the margin account is a combination of both form and substance. The form of the margin account transforms between tangible and intangible. Therefore, the recognition method of the margin account specialization is divided into formal specialization and functional specialization. The floating of the capital or the lack of corresponding relation of the capital and the debt is not necessarily constitute a damage to the margin account specialization. In the transfer of the possession part, it thinks to get the judgment according to the actual control of the margin account. The pledgor opening account in his own name may not affect the transfer of the possession. This paper begins with Agricultural Development Bank Anhui branch v. Zhangdabiao and Changjiang Company, and solves all of controversial issues in the case in the end, in which the ideas and theories are with universal value. It expects this case can be a demonstration and provide reference for the same type of cases in the judicial field.