The Sphere Of Application About Bankrupt Law In China

The bankrupt law in our country is only applied for the bankruptcy of business corporation. But many problems about redemptions of debt may not be solved completely according to the bankrupt law in practice. In our daily life, we can find more individual business and consumer credit behaviors. Numerous no corporate enterprise associations become the important part in the market gradually, such as partnership, individual proprietorship, individual partnership, small industrial or commercial businesses, lease holding rural household and all management entities. But more and more problems about consumer credit behaviors can be found when these enterprises and individuals intercourse with the third part in the business actions, and this will influence the stabilization and harmony of market economy order. If no corporate associations and individuals are excluded from the sphere of application of bankrupt law, they will influence the balance between the just accepted interest of the creditors and social collective interest. If the perfect bankrupt law is established, which can be the same with all market management business corporations, no corporate associations and individuals, it is easy to solve the problem about redemptions of debt. The interest of the creditors and the social interest will be protected effectively. It will help people to compete in equal terms, so it is urgent to expand the sphere of application of bankrupt law after the bankrupt function mode is based on the protection of the creditor's rights. Nowadays, new bankrupt law is being drafted out and audited. The author of the paper thinks that the sphere of application of the new bankrupt law should be expanded to individuals, business corporation, no corporate corporation and all market management entities when we establish the flexible and various new formality system according to the real situations in China...