On The Secured Property Law On The Transfer Quality System

The repledge system has been a relatively mature legal system in the countries that belongs to Continental Law Legal Family. In China, however, the development of the repledge system has gone through the evolution from"absolute nonrecognition""restricted recognition"to"absolute recognition". This paper, by adopting the methods of comparison and analysis, revolves around the Guarantee Law of the People's Republic of China (hereinafter referred to as"the Guarantee Law") and Real Right Law of the People's Republic of China (hereinafter referred to as"Real Right Law"), and then trims the matters concerned the repledge system comprehensively. The paper consists of FIVE parts.In the first part, the paper discusses the structure and the nature of the repledge system. In this part, the definition, structure are defined as well as other relevant matters related to the repledge system. Meanwhile, it analyses the nature of two types of repledge (Repledge with Agreement &Repledge with Responsibility). In the second part, the paper discusses inscapes and legal effects of Repledge with Agreement &Repledge with Responsibility respectively, and makes a comparison between them.In the third part, the paper focuses on the value of the repledge and its paradigms. The value can be recognized in three perspectives and the reasons for choosing such paradigm also be discussed.In the fourth part, the paper emphasizes on the bewilderment of the operation of the repledge and its risks. The methods of public disclosure and legal effects of public disclosure are the main obstacles that cause the bewilderment of the operation; as for the analysis of risks, the paper, by reduction to absurdity, testifies the feasibility of absolute recognition of the repledge. Afterwards it analyses the risks related to the allocation of parties'rights and obligations.In the last part, the paper concentrates on the repledge system in the GuaranteeLaw. Firstly, it discusses the embarrassing status that the repledge system locates in by right of the comments of Art.94 in Judicial Interpretation of the Supreme People's Court on Some Issues Regarding the Application of Security Law ; secondly, it discusses the status quo of the repledge in China by virtue of the comments on Real Right Law and Real Right Law(Draft) ; thirdly, it analyses the reasons in detail on the evolution from"restricted recognition"to"absolute recognition"; finally, it manifests the importance of the recognition of the repledge system.