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The Public Auction of Movables Registration Security

  • DONG-A LAW REVIEW
  • 2013, (60), pp.169-192
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

Lee Sung Jin 1

1경북대학교

Accredited

ABSTRACT

The act on movables security system which is called 『Act on Security of movables and claim etc.』 was enforced in order to activate a movables security system recently. This act introduced the new collateral system which is different with the existing collateral which utilized movables. Also, scope of movables collateral transactions will be gradually extended by enforcement of this act, because of solving a problem which is given too much importance in real security. When a mortgagor of movables sets up a security right of movables, a mortgagee of movables can occupy a collateral object, but generally this act is planning the case that a mortgagor of movables occupies movables. So a mortgagor of movables unlike pledger can use a collateral. Therefore, a disadvantage of the right of pledge that a pledger can't use a security, can be overcome. This act makes it a rule to do a public auction on right of movables registration security and admits personal enforcement exceptively. The system of movables registration security was enforced for shirt period. Therefore, there is not many cases that is involved in a public auction on right of movables registration security. But many defaults is expected to happen soon. Eventually many defaults will be connected to a public auction on right of movables registration security. thus, in this research paper I research problems of a public auction on right of movables registration security that will be able to happen. I deduct solution plan and various interpretive method on several problems of a public auction on right of movables registration security from this research.

Citation status

* References for papers published after 2022 are currently being built.

This paper was written with support from the National Research Foundation of Korea.