Published online by Cambridge University Press: 09 July 2025
The chapter outlines the requirements for creating a valid pledge, including the necessity of an agreement and the transfer of possession.
The chapter then explores the concept of a lien, which grants a creditor the right to retain possession of a debtor’s property until the debt is satisfied. It explains the conditions under which liens arise, typically through the provision of services or materials that enhance the value of the property.
A significant portion of the chapter is dedicated to discussing the priority of claims. It explains how pledges and liens interact with other security interests and the legal rules that determine the priority of creditors’ claims. The chapter also details the enforcement mechanisms available to creditors, including the sale of the pledged or liened property and the distribution of proceeds.
By analyzing these aspects, the chapter provides a thorough understanding of the legal intricacies of pledges and liens, emphasizing their practical implications for securing and enforcing debts in China.
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