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Mortgage
Law in China: Comparing Theory and Practice --
Gregory M Stein
Communist
doctrine prohibits private ownership of property and all land
in China is either owned by the State or by agricultural collectives.
Generally, land use rights are mortgageable for improvements
on the land if these are sold by the government entities.
Such restricted sales are valid for 30 to 50 years. The Chinese
law provides for a foreclosure right similar to the one available
in the United States. Prospective buyers actually receive
two ownership certificates from the developerone signifying
their ownership interest in the underlying land use right
and the second covering the unit. The Property law as it is
actually practiced in China diverges from the published legal
rules thus causing significant legal uncertainty. In this
context, this article critically analyzes the peculiarities
of mortgage law in China and its impact on real estate development.
©
2007 Gregory M Stein. This article was originally published
in Missouri Law Review, Vol.72, No.4, pp. 1315-1352.
Reprinted with permission.
The
Problems and Possibilities for Using Electronic Bills of Lading
as Collateral -- Marek Dubovec
Marine
bills of lading have an intrinsic value as security to banks,
which finance the sale of underlying goods. Bills of lading
represent the title to goods with unique feature of negotiability
that allows transferability of property by mere endorsement
and delivery. In the light of increasing volume of e-business
transactions the introduction of electronic bills of lading
assumes greater significance. This article examines the legal
and regulatory implications associated with the electronic
forms of bill of lading and difficulties in replicating the
functions of their paper counterparts. The paper discusses
the process of dematerialization and the legal requirements
to be fulfilled in this context. The author opines that if
electronic negotiability and acceptability are made possible
by suitable legislations as collateral security, e-bills of
lading would be valuable collaterals in secured lending and
letter of credit transactions.
©
2006 The Arizona Journal of International & Comparative
Law. This article was earlier published in the Arizona
Journal of International & Comparative Law, Vol. 23,
pp. 437-466. Reprinted with permission.
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