Research On Public Announcement System Of Financial Leasing Of Movable Property

Financial leasing originated in the United States,because it achieves financing effect by means of financing,has strong ability to resist risks,and has good financing effect.It is gradually introduced by various countries in the world and widely used in the world.Nowadays,as one of the most dynamic financial service industries in social development,financial leasing industry has become the third largest financial instrument in parallel with securities and bank credit.The most prominent feature of financial leasing is the existence of three parties,two contracts,and the separation of ownership and possession of the subject matter.The subject matter is the core of the whole financial leasing contract relationship,and it is the calculation basis of the creditor's rights in the financial leasing contract and the real right guarantee of the transaction.The lessee of the financial leasing transaction legally owns the subject matter,and the ownership of the subject matter belongs to the lessor.In order to protect their own rights and interests from infringement,lessors often adopt a variety of public ways to commend the ownership of the subject matter,such as labeling the subject matter itself,registering the financial lease or mortgage of the subject matter,etc.In this case,there will inevitably be a conflict between the publicity effect of the lessor on the subject matter and the publicity effect of the lessee's possession of the subject matter.The effectiveness conflicts among different publicity methods are mainly reflected in the conflict between the lessor's right to the subject matter and the third party's acquisition of the subject matter in good faith when the lessee disposes of the subject matter without authorization.The deeper reason of this contradiction lies in the value choice of bona fide acquisition system,which is to protect the security of dynamic transaction or to maintain the stability of lessor's ownership.It should be judged according to the specific situation in practice.At present,the phenomenon that the lessee disposes the subject matter without authorization is still frequent in practice,which greatly damages the legitimate rights and interests of the lessor and strikes the financing enthusiasm of the lessor.In the long run,it will hinder the healthy development of the industry.Therefore,in the later development of financial leasing,the value orientation should be inclined to the direction of protecting the lessor's ownership.From the type analysis of the third party,including the owner,mortgagee,pledgee,lien and sublessee of the subject matter,different types of third party should meet different elements of acquisition in good faith.From the analysis of the elements of acquisition in good faith,the judgment standard of the third party in good faith is closely related to whether the third party has the query obligation of financial lease registration.If the publicity effect of the registration is confirmed,the third party's inquiry obligation should be the standard to judge the third party's good faith.Similarly,if the registration of financial leasing does not have the effect of property publicity or the effect of publicity is weaker than the reasonable trust of the third party on the lessee's possession of the subject matter,the third party's query obligation should not be the judgment standard of the third party's good faith.The essential reason for the effectiveness conflict between different publicity methods lies in the uncertainty of the order of the effectiveness of publicity of the subject matter,and further lies in the uncertainty of the effectiveness of publicity of financial lease registration.Relevant laws and regulations as well as judicial cases are not clear about this,resulting in different judicial opinions among courts in practice.Some courts directly denied the publicity effect of this kind of registration,while some courts believed that compared with the lessor's registration of financial leasing for the subject matter,the lessee's possession effect was more priority,while others believed that the financial leasing registration was more effective than the lessee's Possession has more priority.The priority effect of registration should be clear,because the registration system has more prominent advantages.When the civil code of China is coming into being,if the corresponding provisions can provide for the effectiveness of registration against publicity,it will have a very important positive impact on the above issues.Although the draft of the civil code is intended to clarify the antagonistic effect of the ownership of the registered object,there is still room to further refine the relevant provisions for the registration system of movable property financial leasing.From the research point of view of relevant scholars and the legislative practice of other countries,this can be refined from three aspects:first,to clarify the effectiveness of publicity confrontation;second,to integrate the existing two major financial leasing registration systems to form a unified registration platform;third,to simplify the procedural matters of financial leasing registration from the aspects of registration content and registration authority,so as to improve transaction efficiency Rate.