Study On The Exercise Period Of Guarantee Right

The exercise period of guarantee right means the guarantor can get legal protection during the period of the exercise of security interests. As for the guarantee, there exists an important issue in both the theory and judicial practice that when the creditor is arranged on the real right for security, if the principal claim exceeds the limitation of action, will it affect the guarantee right?Only the nature of the period is defined to make it be the prerequisite to explore the problem of exercise, and the theoretical basis for judicial practice can be provided. Guarantee right is subordinate to principal creditor's right but it is also affected by prescription.Combined with “Property Law” and “Judicial Interpretation of Guarantee Law”, the paper will explore the fate and effect of guarantee right after the expiration about litigation of the principal creditor's right. The paper will include four parts except for introduction.Chapter one analyzes the exercise period of mortgage. First, the chapter has a brief introduction to evolution of regulations about the guarantee right exercise period of civil law in China and makes an analysis on the legal status that the people's court shall not protect the right of mortgage. Second, the paper mainly discusses the properties during the execution of mortgage and introduces four mainstream theories and makes evaluation. Third, the conclusion is made that it is mainly affected by subordination of guarantee right during the exercise of the right of mortgage. And last, how to deface the register of guarantees is analyzed.Chapter two is about the problems of Article 202 in Property Law. It is mainly the cause of vague wording. Article 202 stipulates for that prescription of action of principal creditor's right is not suitable for period of petition for enforcement. And it has exercise problems about the right of defense which are separated into four situations to discuss.Chapter three analyzes the exercise period of pledge and lien. First part is putting up with questions. The three are typical real rights for security but have different fates if principal creditor's right exceeds the deadline. Second part is about applicable law for pledge and lien. There is no regulation about them in Property Law while regulation on guarantee right is made in The Judicial Interpretation of Guarantee Law, which makes the existence of doubts about pledge and lien when applying for the law. How to apply for law? The properties of articles of law and three kinds of typical real rights for security shall be analyzed. Article 202 in Property Law shall not be applied for simply.Chapter four is conclusion. This part mainly summarizes the primary contents discussed above.