| Article 416 of the Civil Code of the People’ s Republic of China(hereinafter referred to as the "Civil Code")stipulates the purchase money security interest,giving it a super priority status of "registration after,effect before",which is an important system innovation of our guarantee real right system,which has aroused concern and discussion.However,the regulations of this system are not complete at present,and there are differences in understanding.From the Angle of explanation theory,firstly,this paper introduces the legislation situation of the purchase money security interest of our country and points out some deficiencies.Secondly,it clarifies the origin and structure of the purchase money security interest,and clarifies its institutional value and purpose.Finally,the paper examines its priority effectiveness and system effect,and seeks a reasonable scheme for its connection with the associated system,so as to provide reference for its application.The object of the purchase money security interest is limited to the chattel,the subject type is the seller and the lender,there must be a relationship between the price and the mortgage,and the registration within the grace period,in order to obtain the super priority effect.Its super priority effect is only for other security rights set up by the buyer,mainly in order to limit the floating mortgage,solve the debtor’ s refinancing problem,and inferior to the lien.In order to simplify the application of the sequence rule and maintain the coordination of the system,the bona fide acquisition of security rights during the grace period should not be recognized.Due to their similar economic functions and institutional structure,ownership retention and finance lease can obtain the super priority effect according to the rules of quasi-payment of debt mortgage by judicial interpretation.The "loosening" of implicated relationship may not affect the survival of the mortgage of creditor’s right of the price,so our country can use double identity rule for reference to deal with cross guarantee and so on.When multiple price creditor’s rights are competing for deposit,they should not be protected according to the subject of the right or the registration time.In addition,we should analyze the relationship between the purchase money security interest and other priorities and the buyer of the mortgage to find a solution to the conflict. |
