The Rationale of Publicity in the Law of Corporeal Movables and Claims

1 Introduction: Context, Question, Methodology and Outline 1
1.1 The Research Context and Questions
1.1.1 General Context: Property Rights, Third Parties, Information and Publicity 1
1.1.2 Question I: Is the Principle of Publicity Tenable? 4
1.1.3 Question II: Is Registration Desirable? 6
1.1.4 Specific Cases: Secured Transactions, Trusts, and Property Rights of Motor Vehicles 7
1.2 Research Methodology 11
1.3 Research Outline 14
1.3.1 Chapter 2: Property Rights, Third Parties, Information, and Publicity 14
1.3.2 Chapter 3: Corporeal Movables and Possession 15
1.3.3 Chapter 4: Claims, Notification to Debtors, and Documental Recordation 16
1.3.4 Chapter 5: The Rationale of Publicity in the Law of Corporeal Movables and Claims 17
1.3.5 Chapter 6: Implications for Chinese Law 18
1.3.6 Chapter 7: Summary 18

2 Property Rights and Publicity 19
2.1 Definition of Property Rights 20
2.1.1 Initial Difficulties 20
2.1.2 The Essence of Property Rights 23
2.1.3 The Features of Property Rights 31
2.1.4 A Possible Definition 41
2.2 Property Rights, Proprietary Information and Publicity 41
2.2.1 Information and Proprietary Information 42
2.2.2 Parties and Proprietary Information 48
2.2.3 Publicity and Proprietary Information 56
2.2.4 Conclusion 61

3 Possession and Corporeal Movables 63
3.1 The Concept of Possession 64
3.1.1 An Introduction to the History of the Concept of Possession 65
3.1.2 Preliminary Comparative Study 72
3.1.3 Further Comparative Study of Animus 83
3.1.4 Conclusion 93
3.2 Possession and Publicity 94
3.2.1 Possession and the Proprietary Information Conveyed 94
3.2.2 Publicity Effect of Indirect Possession 114
3.2.3 Conclusion 121
3.3 Possession and Third-Party Effect: Strange Interferers 122
3.3.1 The Concept of Possessory Protection 122
3.3.2 Possession, Protection and Publicity 123
3.3.3 Protection in the Absence of Actual Possession 133
3.3.4 Conclusion 138
3.4 Possession and Third-Party Effect: Subsequent Acquirers 138
3.4.1 Possession and Subsequent Acquirers 139
3.4.2 Transfer of Ownership of Corporeal Movables 141
3.4.3 Bona Fide Acquisition of Corporeal Movables 161
3.4.4 Conclusion 189
3.5 Possession and Third-Party Effect: General Creditors 190
3.5.1 General Creditors and the Desired Information 190
3.5.2 Possession and the Information of Ownership of Corporeal Movables 193
3.5.3 Possession and the Information of Proprietary Encumbrance over Corporeal Movables 198
3.5.4 Conclusion 208

4 Notification, Documental Recordation, and Claims 211
4.1 Notification to Debtors 211
4.1.1 Notification and Personal Rights 212
4.1.2 Notification and Third-Party Effect: Strange Interferers 225
4.1.3 Notification and Third-Party Effect: Subsequent Acquirers in Outright Assignment 226
4.1.4 Notification and Third-Party Effect: Subsequent Acquirers in Pledge and Security Assignment 237
4.1.5 Notification and Third-Party Effect: General Creditors 246
4.1.6 Conclusion 248
4.2 Documental Recordation 249
4.2.1 Introduction of Securities 250
4.2.2 Securities to Goods 254
4.2.3 Securities of Payment 290

5 Meeting the Requirement of Publicity by Registration 313
5.1 The Rationale of Publicity 314
5.1.1 Merits and Disadvantages of Publicity 314
5.1.2 Comparison of Different Methods of Publicity 322
5.1.3 Publicity and Third Parties 327
5.1.4 Publicity and the Model of Acquisition 330
5.2 Meeting the Requirement of Publicity by Registration 344
5.2.1 Ubiquitous Existence of Hidden Property Rights 344
5.2.2 Meeting the Requirement of Publicity by Registration 347
5.3 The Introduction of Registration: A General Discussion 347
5.3.1 The Construction of the System 348
5.3.2 The Scope of Registration 367
5.3.3 The Legal Effect of Registration 384
5.3.4 Conclusion 411
5.4 Registration as a Solution | Case Study I: Secured Transactions 412
5.4.1 Setting the Scene 413
5.4.2 The Desirability of Registration 416
5.4.3 The Scope of Registration 427
5.4.4 Conclusion 437
5.5 Registration as a Solution | Case Study II: Trust 437
5.5.1 Setting the Scene 438
5.5.2 The Desirability of Registration 451
5.5.3 Publicity and the Proprietary Effect of Trust 458
5.5.4 Conclusion 461
5.6 Registration as a Solution | Case Study III: Motor Vehicles 461
5.6.1 Setting the Scene 461
5.6.2 The Rule of Possession 463
5.6.3 The Desirability of Registration 471
5.6.4 The Legal Effect of Registration 476
5.6.5 Conclusion 477
5.7 Conclusion 478

6 Implications for the Principle of Publicity under the 2020 Chinese Civil Code 481
6.1 Introduction of the 2020 Chinese Civil Code 481
6.2 Publicity of Corporeal Movables and Claims in the 2020 Chinese Civil Code 482
6.2.1 Publicity of Corporeal Movables under the Chinese Civil Code 482
6.2.2 Publicity of Claims under the Chinese Civil Code 488
6.2.3 Publicity of Trust on Corporeal Movables and Claims 491
6.2.4 Construction of a Modern System of Registration for Corporeal Movables and Claims 493
6.3 Conclusion 495

Summary 497
Samenvatting 507
References 521
Index 559