November 16，The 44th session of "Shandong University Law High-end Forum" was held in Huagangyuan, Qingdao Campus。Professor Zhang Gu from Zhejiang University Law School gave an academic report titled "The Function of Rights Securitization"。The lecture was hosted by Sun Ximing, assistant researcher at bet365 app，bet365 appProfessor Zhang Pinghua、Assistant Researcher Huang Qingyu、Assistant Researcher Yang Ruihe、Postdoctoral fellow Wang Yuqiao serves as the interlocutor，Nearly a hundred teachers and students participated in the lecture。
The beginning of the lecture，Zhang Gu starts from the dichotomy between the ontology of rights and the object of rights，Point out that the ontology Bet365of rights is abstract，The object of rights is concrete in principle。But the securitization of rights dissolves the distinction between rights ontology and rights objects，This kind of collapse of boundaries impacts the existing system of civil law rules，For our understanding of the rules on assignment of claims in traditional civil law、The property rights change model, etc. all have reference significance。Differences in institutional logic also determine that rights securitization has special institutional functions，Zhang Gu then explained the six functions of rights securitization。
Bet365 lotto reviewRights securitization can make abstract rights concrete、On paper，Paper-based securities can produce a presumption of rights effect，The holder is presumed to be the right holder，Holding a security itself indicates the existence of a right。
Second, the exemption function.Rights securitization can eliminate the debtor’s cost of verifying creditors，To avoid the risk of double benefits due to errors。At the same time for different types of securities，The basis and composition of the exemption are different，Should be distinguished。If in bearer securities，The fact of holding securities constitutes the basis for the debtor to be exempted from liability after payment；In addition to the fact that the securities are held in the instruction note，Continuous endorsement transfer required，The debtor shall be exempted from liability after payment。
Third, the reminder function is beneficial to the debtor.Zhang Gu thinks，This is the most important function of securities。Securities as the only evidence of rights，The limited separation of rights and media is recognized only when the court makes an ex-rights judgment。In addition，The right holder must hold securities when he wants to exercise his rights，Notice and deliver securities to debtor，can constitute the effective exercise of rights by the right holder。The debtor should get back the securities after payment，At this time, the securities have the meaning of debt settlement acceptance certificate for the debtor。
Fourth, the prompt function is beneficial to new rights holders.Zhang Gu pointed out，After rights securitization，The original obligee must hand over the securities to the new obligee，New rights holder holds securities，Guaranteed the effective exercise of rights to the debtor。And due to delivery of entitlement certificate，It ensures that the debtor will not make wrong payments due to the appearance of rights，Therefore, the rules for debtor protection in the traditional credit transfer system，There is no applicable space for rights securitization。
Fifth, the certification function is beneficial to the holders of securities.After rights securitization，Produces a legal presumption effect，That is, it is presumed that the person holding the securities is the right holder。This presumption has the effect of reversing the burden of proof in procedural law，If the debtor refuses to perform its obligations，It should be proved that the security holder is not the right holder。
The sixth function is to promote transactions and protect transaction security.Rights securitization by standardizing rights，Enhanced the liquidity of rights；Also through the right appearance theory、The literal meaning of the bill、The bona fide acquisition system strengthens the protection of transaction security，Achieving both transaction efficiency and transaction security。
Finally Zhang Gu pointed out，The functions of rights securitization are not isolated from each other，bet365 casino blackjackDifferent functions can be combined with each other。At the same time, some of the above functions are exclusive to securities，Some functions are shared by various securities，You should pay attention during the learning process。
Conversation session，Zhang Pinghua systematizes abstract legal principles、Integrated thinking on civil and commercial legal relations、Summary of the lecture content focusing on case studies and other aspects，And expressed gratitude to Zhang Gu for attending the lecture。Huang Qingyu starts from the perspective of company law，Explains thoughts on the issue of rights securitization。Yang Ruihe pointed out，Rights securitization has the function of simplifying the transfer of creditor's rights，And elaborated on the connection issue between rights securitization and credit transfer rules。Wang Yuqiao pointed out that the issue of rights securitization can be understood and explained from a broader sociological perspective。
Question session，Zhang Gujiu’s classmates proposed the electronicization of securities、Responded to issues such as securities rights confirmation judgments。
Speaker’s introduction:Zhang Gu，Professor of Guanghua Law School of Zhejiang University、Doctoral Supervisor。Bachelor of Laws from East China University of Political Science and Law、Master，Doctor of Laws, Renmin University of China，Postdoctoral fellow at Peking University。Worked at the International Institute for the Unification of Private Law、Visiting Research Fellow at Humboldt University Berlin, Germany，And successively taught at the Law School of Renmin University of China、Peking University Law School、Zhejiang University Guanghua Law School。
Text
Picture
Audit
