Research On The Legal Application Of Purchase-money Security Interes In Civil Code

When compiling the Civil Code,our country introduced the concept of Purchase-Money Security Interest(PMSI)in common law system.The PMSI has priority over other security interests except the lien,which has caused a huge impact on the order of payment rules of the security interest system.Purchase-Money Security Interest(PMSI)has been tested by time outside the territory,which proves that it has a certain role in promoting economic development.When our country’s legislators designed the system of price mortgage,they designed the system too concisely and clearly,which caused a series of confusion and brought great inconvenience to practical application.Therefore,it is extremely necessary to analyze the connotation of Purchase-Money Security Interest,which plays an important role in whether the price credit mortgage system can take root in my country’s unique social environment to promote the high-quality development of my country’s economy.Purchase-Money Security Interest has the specific applicable condition and the specific applicable effect.Purchase-Money Security Interest can break the "position monopoly" created by the floating guarantor,and at the same time it can well safeguard the interests of the floating guarantor,the debtor and other guarantors.It plays an important role in maintaining the stable development of modern commercial movable property transactions.The priority effect of Purchase-Money Security Interest is a special rule of the effectiveness of the security right,which breaks through the general effectiveness order of the original movable property security system in our country.It can only be applied to the sale and purchase of movable property.The mortgagor can only be the buyer in the sale and purchase of movable property,but the seller or the lender of the price can be regarded as the mortgager.The application scope of Purchase-Money Security Interest should be limited to the scope of the floating guarantee.Excessive expansion of Purchase-Money Security Interest applied to various movable property guarantee fields has the original intention of establishing Purchase-Money Security Interest system,which lacks rationality and legitimacy.The subject matter of Purchase-Money Security Interest should be tangible movable property,and there should be a relationship between the secured claim and the purchase of tangible movable property.Mortgage registration within ten days of the delivery of movable property is an important prerequisite for the occurrence of the priority effect of the mortgage of the price claim.The standard for the delivery of movable property should be applied to the theory of appearance right,that is,to judge whether the debtor has obtained the possession of the subject matter from the perspective of a third party,so the mode of delivery is limited to actual delivery and simple delivery.As Purchase-Money Security Interest is an exotic product,it has only been more than a year since it was introduced into the movable property guarantee system of our civil law.There are no meaningful cases in practice that can be used for reference,and it lacks local practicality.Therefore,when studying Purchase-Money Security Interest,the corresponding theoretical discussion is carried out by establishing a case model of the problems that may arise in the establishment and maintenance of Purchase-Money Security Interest in practice,and the solutions in different situations are determined.The establishment of the mortgage of the price claim should not require that the loan contract must be concluded before the purchase and sale contract.As long as Purchase-Money Security Interest has registered within ten days after the purchase and sale contract is established and actually possessed,Purchase-Money Security Interest can be established.In addition to the existing legal publicity system,the establishment of an automatic publicity system as a supplement can meet the needs of daily life consumer goods credit transactions.Establishing a system of notice by Purchase-Money Security Interest to the prevailing mortgagor would,in some extreme cases,avoid prejudice to the interests of the competing security right holders,although such a system of notice would be limited to the sense that the prevailing mortgagor could not prevent the creation of a security right in the price claim.In the case that Purchase-Money Security Interest and Non-purchase-Money Security Interestare cross-secured,it should be judged according to the double identity rule,and only the collateral and the price claim are required to have a certain relationship.When different Purchase-Money Security Interest coexist,the seller and the lender have the same legal status of Purchase-Money Security Interest and their order of repayment should be subject to the general rules of the order of repayment of mortgages,and different types of Purchase-Money Security Interest should not be differentiated and protected as extraterritorially.Unregistered or registered beyond the grace period of Purchase-Money Security Interest of the application of movable property mortgage repayment order of the general rules.When the building materials become part of the building,Purchase-Money Security Interest on the building materials will conflict with the priority of the construction contractor.For the consideration of judicial efficiency and social value,the construction contractor should have priority in repayment.In the case of the retransfer of the mortgaged property,the priority effect of Purchase-Money Security Interest is retroactive and applies to the new assignee.However,there are exceptions to the application in the case of the retransfer of the movable property as the mortgage.For example,our law does not allow Purchase-Money Security Interest to be retroactive in sales that are normal business activities.The criterion of normal business activities is based on the scope of business.In the case that the movable property is exchanged for the old one,the validity of Purchase-Money Security Interest should also be limited to the old equipment and should not be extended to the new equipment.