On Expectant Right Of The Buyer In The Deal Of Retained Ownership

With the development of the credit economy and commodity economy, installment sale was more and more popular in America at the end of the 19th century. In such a new situation, the retained ownership purchase which has a deep historical origin was renewed with unique charm and enormous vitality and furthermore became one of the most vibrant guarantees in the existing legal system. But in the retained ownership purchase, the buyer enjoys the right of possession, access and usufruct, before the achievement of specific conditions which the litigants have agreed, the seller keeps ownership of the subject matter, so in this course, the right the buyer enjoyed is so weak before the ownership the seller enjoys.So out of consideration for protecting the fair rights and obligations of both parties, the law endows the buyers with a particular right, by which they can defend against the violations from the seller and the third party and achieve the dynamic balance between both parties in the legal system and protect the legal status of the buyer before the achievement of specific conditions, this is what we are going to talk about in the following article—expectant right of the buyer in a retained ownership deal. Its importance is obvious.Germany is the country where the Expectations right theory originated, the legal status caused by conditional civil legal act has been recognized as one kind of the Expectations right, while the expectant right of the buyer is typical of the conditional civil legal act. So we can see that the study on Expectations right theory is dominated by the expectant right of the buyer, and we can get some reference about the expectant right of the buyer form the study of Expectations right theory in Germany. Since the establishment of the Expectations right by German in nineteenth century, we have had a series of research and debate of Expectations right and many theories and doctrine have been formed, however, we still can not agree on its conception, constitutive requirements, legal nature and so onThe preliminary system of retained ownership was defined by our contract law passed in 1999, but its legal rules were too simple to adapt to the development of our modern economy. Besides, research on the Expectations right theory has just been started in our country, so in-depth investigations and studies have not be conducted yet. But I am deeply attracted to it, and I will try my best to inquire into the theory of the expectant right of the buyer on the basis of referring to the successful theories at home and abroad.The thesis consists of four parts, about 30000 words.In the first part, this author will try to make brief introduction to the theoretical background of expectant right of the buyer, that is, the system of retained ownership and the Expectations right theory, so that we can form general idea about conception, constitutive requirements, legal nature of the expectant right of the buyer, intending to make everyone have a basic and overall concept of the researching purpose and the expectant right of the buyer.Based on the previous chapter, in the second part, I will discuss the legal nature of the expectant right of the buyer. First, I will review the evolution on legal nature of the expectant right of the buyer in German practical circles and different theories in theoretical circles home and abroad. Centered on whether it should be a kind of property rights, there are two viewpoints. On the basis of analyzing and evaluating different views, I think the expectant right of the buyer should be viewed as a special right.Scholars still haven't reached an agreement on the legal nature of the expectant right of the buyer, though they agree that the expectant right of the buyer is an independent legal right. So in the third part, we will go into its legal effect, basically around the four respects, that is, priory effect, against effect, dispositive act effect and acquisition effect, so we can provide the theory base for the legal protection to the expectant right of the buyer.Based on the third part and refer to the successful theories about the legal protection to the expectant right of the buyer at home and abroad, in the last part, the author suggest that we should provide comprehensive protection for the expectant right of the buyer according to the perspective of the laws of Property Law, Contact Law, Conditional civil juristic acts, Bankruptcy Law and Tort Law so as to set the legal framework of the expectant right of the buyer.