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Financial Innovation and Judicial Judgment: Discussions Based on Sample Case, Theory and Practice of “Valuation Adjustment Mechanism” in China(PDF)

《南京师大学报》(社会科学版)[ISSN:1006-6977/CN:61-1281/TN]

Issue:
2013年03期
Page:
94-
Research Field:
Publishing date:

Info

Title:
Financial Innovation and Judicial Judgment: Discussions Based on Sample Case, Theory and Practice of “Valuation Adjustment Mechanism” in China
Author(s):
PAN Lin
Keywords:
judicial judgment valuation adjustment mechanism aleatory contract
PACS:
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DOI:
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Abstract:
Theoretically, it is a misunderstanding of the contract law to categorize “valuation adjustment mechanism”(VAM)as an aleatory contract; in practice, this is also a misunderstanding of the nature of the transaction between the parties involved. As an atypical type of contract, VAM should be judged by whether it is against what the law prohibits or jeopardizes the public interests(specified as the interests of creditors and public investors in the securities market). The alienation of VAM in China has disturbed the order of the emerging venture capital market. The key to solving this problem lies in enhancing the guiding and constructive role played the judicial judgments through keeping under strict scrutiny the venture capitalists’ duty fulfillment and observing the principle of honesty and the spirit of fair play.

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Memo

Memo:
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Last Update: 2013-06-30