Definition Of "Price Claim" In Super Priority

In article 416 of the civil code,the reason why the creditor’s right of movable property price enjoys super priority effect and is praised as super priority lies in that the creditor’s right guaranteed by mortgage is a special creditor’s right conforming to the rule of "if there is no,there is no".That is to say,if there is no credit seller or third-party loan provider,there will be no movable property within the debtor’s property.In other words,the increase of its property pool depends entirely on the credit provider.Therefore,even if the former floating mortgagee has the so-called siphon effect on the subsequent property,when other credit providers provide credit and the increase of the debtor’s specific assets is completely dependent on its credit,the mortgage set up with the specific chattel guarantee to pay off the debts incurred by the purchase of the chattel breaks through the basic principle of "publicity first,effectiveness first",However,it does not damage the interests of the prior floating mortgagee.As the basic principle in the field of real right is "publicity comes first,then effect comes first",the application of super priority effect of chattel mortgage must be strictly recognized.As far as the expression of "mortgage of price claims" in the civil code is concerned,the mortgage of price claims should at least meet the three requirements of "one-to-one correspondence with specific subject matter","credit provision resulting in creditor’s rights enables the debtor to purchase specific movable property" and "credit support provided is actually used to purchase the asset and can be clearly proved".The controversies mainly focus on the identification of the true credit provider,the traceable capital flow(to prove that it is clearly used to purchase the object),the one-to-one correspondence in inventory that is not easy to prove,and the priority comparison in super priority auction.However,even if a "mortgage right of price creditor’s right" avoids the abovementioned disputes and perfects other effective elements required by the civil code,and successfully achieves super priority effect,will the legal actions between the parties be guided by the expression of will,including but not limited to the assignment of creditor’s right,the merger of creditor’s right,the extension of refinancing,the issuance of additional shares,and the exchange of the old for the new Whether the change of the status of "price claim" and whether it will lead to the conversion of "price claim mortgage" with super priority effect into ordinary mortgage all depend on the application of "conversion rule" and "dual status rule".There are few provisions on this issue in China’s civil code,and the choice and application of the above rules are still faced with the questioning of formalism and substantialism.Although the expression of "principal creditor’s right" in the civil code has limited the scope of "price creditor’s right",cross guarantee in different forms still makes the specific identification of price creditor’s right not easy.In addition,there has always been a system of ownership retention contract(similar to financial leasing)which overlaps with the super priority system in terms of economic effectiveness in China’s law.Through the absolute effectiveness of ownership,the ownership retention transaction and rental transaction actually guarantee that the creditor’s rights caused by the asset will not automatically flow into the preceding floating mortgage of movable property before it is paid off In fact,it gives the seller and the Lessor the super priority in the competition of the preceding floating mortgagee.It seems inevitable that the chattel secured transaction system in our country will become redundant.However,through the expansion of the security contract,the civil code has left the space for the functional interpretation of the atypical security of ownership retention,which transforms the atypical security into the ordinary security right and applies the general rules of property right uniformly.Through the application of article 416 of the civil code,the ownership retention transaction can be included in the super priority system,which is also full of functionalism,and the price obligation can be reduced The special creditor’s right is extended to the ownership reservation transaction.