The Punitive Damages System. Contract Research

The system of punitive damages is a wide punitive damages system in common law family, which has been regulated into the legislation and the judicature of many countries, and developed in the years' judicature practice. Law of the people's Republic of China on the Protection of Consumer Rights and Interests first mentioned the System of Punitive Damages at the hand of contract and ability in the 49th item, and then it was made sure in the 113th item of Contract Law of People Republic of China. But as a result of being short of congnization of theory, actual rule can't adequately exert its impact. In fact, the anticipative effect can't come into being. This article is to analyze basic theory and components. And I've inquired into the necessity and feasibility of perfection of exemplary damage system in contract in China, thus, it sets forth the proposition to perfect the exemplary damage system in contract in China. This Article consists of three parts.In the first part, The author mainly analyzes the very basic theory of punitive damages system. Among these topics, the core topic is to analyze the rationality of punitive damages. In this section, the article first compares the different definitions of punitive damages. Secondly, the author introduce the history of the punitive damages system and the development of modern family of law in British and The States. Finally, I also generalizes the functions of punitive damages. From three aspects which is in detail three major functions (punitive, preventive and compensatory); I expatiate the existing rationality of punitive damages. And the article opens up the merits of punitive damages to society. In all, the first part is the academic basis of the paper which supplies the legislative authority.In the second part, the article mainly analyzes the necessity and feasibility in contract for our country to perfect the exemplary damage system. Firstly, the article analyzes the main viewpoints which oppose the introduction of punitive damages system into contract law. Then the article analyzes reasonability of in contract for our country from four aspects: First, the basic analysis of law foundation of introduction of punitive damages system into contract law. Second, the economic analysis of introduction of punitive damages system into contact law. Third, the analysis of value theory of law of introduction of punitive damages...