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The Research On The Civil Liability Of Corporation Sponsor

Posted on:2010-08-04Degree:MasterType:Thesis
Country:ChinaCandidate:L FengFull Text:PDF
GTID:2166360275984495Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
The concept of sponsor not only exists in the Joint-Stock company but also in the Limited liability company, the unity of the concept of sponsor can help us recognize and conclude the civil liability of sponsor better. Legal liability is the breach of legal obligations, civil liability is no exception for sponsor. The civil obligation of sponsor includes two aspects: civil contractual obligations and obliged obligations. In contractual obligations, funding obligations play the most important part, and the fiduciary obligation, which includes the duty of care and the duty of loyalty, is very important in the obliged obligation. The civil liability of sponsor is the denial legal consequence that one has to undertake when his professional contractual or obliged obligations are betrayed, or there exists the legal fact. At last, whether one would undertake the negative result is based on other elements of the legal liability which are under the specific circumstances. With regard to the issue of funding liability for breach of contract, the object of liability for breach of contract not only contains the sponsor of the non-default, but also includes all the other sponsors, and the liability of funding of sponsor is not equivalent to the the liabity of funding of shareholders for breach of contract, because there exists the complex phenomenons between them. In addition, the sponsor is bound to sign different types of contracts with a third person in the process of setting up a company. When the company is set up, legal effect of this kind of contracts is based on the declared representative of the interests and the principle of priority to protect the interests of creditors, but we must create some exceptions in order to protect the value of fair and justice.As to the undertaking of civil legal liability of sponsor, associated and joint liability is a major feature. Legislator must limit the scope of the commitment associated and joint liability in order to prevent inappropriate expansion of civil liability, or else the principle of self-responsibility would be destroyed. When one has undertaken the associated and joint civil liability in accordance with the law, he has the right of access to recovery.
Keywords/Search Tags:Sponsor, Funding obligation, Civil liability, Liability for breach of contract, Associated and joint liability
PDF Full Text Request
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