The Identification Of The Leagl Effect Of The Subscription Book For Commercial Houses

The subscription book for commercial houses is the legally-bindingdocument signed by the seller and buyer of the transaction before theirsignature of formal sales contract or presale contract. It is the preliminaryconfirmation of the transaction.Generally speaking, the subscription book for commercial houses is apre-contract which has an independent legal effect.The lack of standard pre-contracts and also the deficiency in the rulesand the judicial interpretation of the pre-contracts lead to lots of controversiesand different judgments about the legal effect of the subscription book injudicial practice. Two main issues lie in the legal nature of the subscriptionbook and the duties and rights of the parties as well as the legal liability ofthe default party. This study tries to research on the above-mentioned issues in theperspective of judicial practice so as to seek a uniform regulations and rulesin the settlement of the disputes.Four chapters are included:Chapter1The practice of the subscription book for commercialhouses and its problems;Chapter2Confirmation and grounds of the legal nature of thesubscription book for commercial houses;Chapter3Confirmation and grounds of the legal liability of thedefault party of the subscription book for commercial houses;Chapter4The necessity to improve the pre-contract legislation andsome proposals.