Research On The System Of The Redemption Right

The redemption right in the sales contract is the seller agreed to sell the right to redeem the subject matter between the parties reserved.National legislators' views on the nature of the redemption right is different.But limited on the redemption right of its scheduled period,and after the exercise of the redemption right the original trading relationship disappeared,and the obligation to liquidate settled generated between the parties.According to the analysis of the effectiveness of right of cancellation does not necessarily retroactive be agreed upon between the parties,and therefore the legal effect of the redemption right are also right of cancellation.In China's current legislation did not make provision for the redemption right,but the redemption right system is not due to the abolition of the draft of "Contract Law" does not exist.Currently the redemption right system in many areas of our country have been used,especially in recent years,private lending cases in the sale contract entered into by the way is gradually increasing,these private lending contract is similar to the contract of the redemption right,but it is not safety compare with the redemption right system.In China,there are many systems can produce the legal effects that the subject matter back to the original owner,including the pawning right,the right to revoke(the consumer the right to revoke),retention of title sale,re-sale of appointments.But each system has difference between the others,such as the right to buy and pawning right,the pawning right only takes up the subject matter of usufruct without taking ownership;the right to revoke the consumer,the consumer is entitled only to operators concerned Returns and claims the refund,and so on.The redemption right has it's unique value,it can not be replaced by the other system.Therefore,China should provide for the redemption right system.Because of its security interest in atypical forms of sale established the redemption right system shall be specified in the sales contract system;and based on the redemption right's legal requirements of the analysis,generally the meaning representation is not require fixed form,once reach the other party can take effect;the limits on the kind of subject matter in accordance with national legislation is different,but for the purpose of the security repurchase rights,the redemption right of the scope of the subject matter should be liberalized,include the real estate,chattels,property rights and so on;but depending on the kind of the subject matter,the ascheduled period and the mode of publicity also should be different.