Discussion On The Aircraft Pactum Commissorium

With the modernization transformation of pactum commissoriums in various countries,our country needs to re-understand whether the current legislation of pactum commissoriums is appropriate,based on the special physical nature of aircraft,huge social value,complex changes in real rights,and the natural international nature of the aviation industry.It is not only a part of the study of property law,but also an important content of aviation law research.Aircraft pactum commissorium is different from general pactum commissorium by the particularity of subject matter and secured transaction practice,its validity state changes fundamentally,and the aircraft pactum commissorium guarantees the full performance of the original creditor’s rights,which can not directly lead to the change of aircraft ownership.The negation of the validity of the contract of aircraft flow in China has produced problems,and the inherent defects of the system lead to its failure to effectively link up with international norms,resulting in confusion in judicial decisions and affecting the authority of the rule of law.The legislative purpose of the prohibition of the pactum commissorium needs to be amended,which can no longer fully meet the practical needs.The pactum commissorium may not cause disinterest to the debtor(mortgagor),and some of its positive values need to be reassessed and valued.It is necessary to strengthen the protection of the creditor’s interests,strengthen the creditor’s confidence in financing,implement the principle of private law autonomy,and pursue the benefit value in accordance with the law.With article 11 of the Chinese Civil Code as the entry interface,it is necessary to construct a coordinated,complete and logical self-consistent system of aircraft pactum commissorium in the course of the revision of Chinese Civil Aviation Law to confirm the effect of its agreed system.It is suggested that the potential negative effects should be suppressed by introducing a special revocation right,and the record system should be publicized.