《民法典》禁止流质之规定的新发展及其解释

New Development of Provision on Prohibition of Liquid Pledge in the Civil Code and Its Explanation

《民法典》第428条对禁止流质之规定作了一个重大变化,不再以"不得约定"之方式直接禁止流质,而是采用了法律后果模式。从禁止性的行为规范到技术性的法律后果模式,体现了中国《民法典》立法技术上的成熟和立法理念的更新。解释论上,第428条可以看作是对禁止流质的缓和,并产生认可让与担保、股权让与担保、买卖型担保等新型担保类型的体系效应。让与担保、买卖型担保等不再能够以禁止流质为依据认定无效,从尊重自治的角度对这些担保类型予以认可,符合民事立法的精神,但在制度建构上应辅以清算义务作为配套规则,以确保债权额与标的物价值之间的利益平衡。

Article 428 of Civil Code has made a great change in prohibiting liquid pledge,where liquid pledge is not directly prohibited by way of"shall not be agreed",but a mode of legal consequence is adopted.The change from a prohibitive code of conduct to a technical mode of legal consequence has exhibited maturity in legislative techniques in the making of China\s Civil Code and innovation in law making ideas.With regard to explanation,Article 428 can be viewed as a mitigation of nullification of prohibiting liquid pledge,and as creating a systematic effect of approving new securities such as alienation guarantee,stock right alienation guarantee,guarantee in way of sales contract,etc.They are no longer regarded as invalid based on prohibition of liquid pledge.Approving these securities from the perspective of respecting autonomy is in accordance with the principle of civil law making,but an obligation of liquidation shall be embedded into the system so as to balance the interests between the amount of claim and the price of the subject matter.