Judicial Application of Price Super Priority from the Perspective of Functionalism
Drawing on Article 9-107 of UCC,Article 416 of the Civil Code was originally intended to limit the effect of movable mortgage,expand the financing channels of small and medium-sized enterprises under the legislative background of"optimizing the business environment".The establishment of the super priority of the price plays a very important role in the transformation of formalism to functionalism.But the new system has many problems in judicial application because of the lack of practical experience of the judges.The cor-rect way to resolve the practical shackles is to return to the legislative purpose and legislative background of Article 416 of the Civil Code,delimit the subject matter type of the super-priority of the price from the per-spective of functionalism,and clarify the relationship between the price of the subject matter and the secured main claim.When several price super priorities or other security rights compete for depositary,the problem of the order of compensation should be solved on the basis of the balance between the requirements of functional-ism and the existing formal system.
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