Legal Efficacy of Title Retention in Bankruptcy Procedure
Title retention,in the functionalism guarantee view,exhibits the characteristics of guarantee right construction.The sale contract of title retention in the bankruptcy procedure conforms to the characteristics of the executory contract,and the bankruptcy administrator has the right to choose to perform it.In China's civil legislation,the buyer who retains the title does not enjoy the right of expectation with the efficacy of real right.In the event of the seller's bankruptcy,the interest of expectation of the buyer will not hinder the bankruptcy administrator from enjoying the right to choose performance.If the seller's retained title is not registered,it shall not be against the ordinary bankruptcy creditors of the buyer.The seller of registered retained title has the right to claim the recall right of the subject matter from the bankruptcy administrator of the buyer,but the seller should refer to the realization procedure of real right of security,and apply the rules for affiliation liquidation or disposition liquidation.The seller shall be subject to the procedural restrictions imposed by the bankruptcy law on security interests.The nature of the seller's bankruptcy administrator's right to retrieve the subject matter is the recall right in the civil law,and its exercise is subject to the force majeure rule of civil legislation registration and publicity.
title retentioneffectiveness of confrontationrecall rightexecutory contractright to choose performance
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