Study On Bankruptcy Void Act System

Legal act system plays a very important role in regulating modern business activities. For those acts which contravene the value of legislation, laws will make them ineffective and cause doers to fail, for the purpose of protecting interested parties. Void act system is just one of those important methods. Chinese bankruptcy law provides its own void act system for some activities, and it coexists with bankruptcy rescission right system in regulating those activities which damage creditor's interests.Academic circles of bankruptcy law in China have paid little attention to bankruptcy void act system. The author believes the following issues which are neglected should be further studied: the concept of bankruptcy void act system; the constitutive requirements of bankruptcy void act; exercise of relevant rights and relevant legal effects; the reasonableness of the current bankruptcy void act system in China; and the parts of the current system which should be improved. This paper aims to study the above-mentioned matters and mainly includes five parts as follows:The first part introduces the foundation and principles of the system. In comparison with the bankruptcy rescission right system, the author analyses its evolution history and puts forward a concept definition. In the meantime, by introducing and comparing with current relevant law systems of other countries, the uniqueness of the current system in China is examined.In the second part, based on current law system of China, through the analysis of relevant law of China, objective requirements and subjective requirements for a bankruptcy void act are summed up.The third part deals with exercise of relevant rights, including the subjects of the rights, the means of exercising the rights and the time limit.The forth part discusses the three layers of the legal effects, lacking the intended legal effect, civil liability and criminal liability.After integrating aforesaid conclusion, from the perspectives of theoretical significance and practical function, the fifth part analyses the advantages of the system, and explores the reasonableness of the system.This paper studies the bankruptcy void act system by comparing with the bankruptcy rescission right system which is closely related. Research methods such as semantic interpretation and structural interpretation are employed in exploring the constitutive requirements, exercise of relevant rights and the legal effects of the bankruptcy void act. Reasonableness of the system is discussed from multiple angles. During the course of studying, this paper adds the analysis and advice for the problems of the current system and comparative analysis with relevant systems of other countries and regions.