The impact of recently enacted property law on china capital market is enormous and positive , but it also brings great challenges to various business including abs business and security of mutual fund shares and equity ceiling 摘要《物权法》的颁布实施，对资本市场将产生重大的积极影响，但同时也带来资产证券化业务、基金份额质押业务、股票最高额质押业务等方面亟待解决的问题。
Lmm is a kind of special mortgage that is used to secure the creditor ' s claims , which occur successively during a given period of time , and to the extent of the anticipated maximum amount that the mortgagee has priority in satisfying his claims 最高额抵押，是指抵押人与抵押权人协议，以抵押物在最高额限度内对一定范围的不特定债权提供担保的特殊抵押形式。作为商品经济产物的最高额抵押制度具有其独特的价值功能。
Article 59 a mortgage of maximum amount as used in this law means that the mortgaged property shall be used to secure the creditor ' s claims which occur successively during a given period of time and to the extent of the total amount of the claims , as agreed upon between a mortgagor and a mortgagee 第五十九条本法所称最高额抵押，是指抵押人与抵押权人协议，在最高债权额限度内，以抵押物对一定期间内连续发生的债权作担保。
But china ' s " warranty law " provisions of the maximum mortgage system are , not only too principle , but also simplistic , and not fit for economic entities to provide comprehensive warranty system . there are even some of the contents that run directly against the rights of mortgage general principal 但是最高额抵押权在我国成文法中却一直是一个处于边缘化的权利,颇受冷落,在整个担保法中涉及最高额抵押权的法律条文所占的分量极小。
The maximum amount mortgage , as a special system , is adapted the need of credit , and makes up for the common mortgage ' s lack . in some country , such as japanese , the utilization coefficient of maximum amount mortgage has been over utilization of the general mortgage 最高额抵押作为一种特殊的抵押制度，是适应融资的需要，弥补普通抵押权的不足而产生的，在商品经济高度发达的一些国家，如日本，最高额抵押的利用率已远远超过普通抵押权。
This article is in main using comparing way and analyzing maximum amount mortgage prescribe of our country and other country . point out some inadequate places in our law , and other countries law concerned in which what served our reference and quotation , and what are n ' t for ours 本文主要采用比较法的方法，比较分析我国及其它国家最高额抵押的法律规定，指出我国最高额抵押立法有哪些不足，其他国家的有关规定哪些值得我国借鉴、引用，哪些不适合我国情况。
The second part is about maximum amount mortgage ' s term of guarantee . we think of those will become maximum amount mortgage by some certain relations of law such as future creditor ' s right , existing " creditor ' s right and bill creditor ' s right . analysis if recall bill creditor ' s right can be maximum amount mortgage 第二部分探讨的是最高额抵押担保债权的范围，认为基于一定法律关系所产生的未来债权、现存债权、及票据债权均可成为最高额抵押的担保债权，着重分析了回得票据债权是否可成为被担保债权问题。
4 if the seller has failed to perform his duties under article 11 . 3 by the date on which the buyer becomes entitled to the maximum amount of liquidated damages according to that article , the buyer may give notice in writing to terminate the contract as regards the non - conforming goods unless the supply of replacement goods or the repair is effected within 5 days of receipt of such notice by the seller 4如果卖方在买方依照第11 . 3条的规定有权获得最高额约定的赔偿金之日为止，未能依照第11 . 3条的规定履行义务，买方基于货物与合同不符，有权书面通知卖方解除合同，除非卖方在收到该通知之日起5日内提供了替代货物或修复了货物。
Besides preface and epilogue , the text is divided into four parts discussing maximum mortgage issues : in part , starting from growing and developing of it , the author expounds the value and features of maximum mortgage , analyzes the function and character of maximum mortgage , and indicates maximum mortgage can realize efficiency value of economy and law . it can bring on circulate function of commodity and bear abating appurtenant and specific nature . specific nature is an important character of maximum mortgage system clearly 本文试图通过比较借鉴和功能分析的方法,结合司法实践中遇到的实际问题,对最高额抵押权进行完整的剖析,从最高额抵押权的价值、特征、效力、适用范围、转让等诸多方面进行深入探讨,以期为建立我国最高额抵押权的制度体系提供更多的理论支持,推动我国的法制化进程。
