Thoughts On Construction Of Legal System Of Personal Bankruptcy

In recent years, with the development of the diversification of market economy,individual credit consumption is growing rapidly, which leads to many problems involving theincrease of folk lending disputes and court’s difficult enforcement. Those problems highlightthe limitations of China’s bankruptcy law. According to it, only enterprise’s legal person candeclare bankrupt according to law while natural person can not declare bankrupt, which hasseriously lagged behind the development of market economy. Based on the legislativeexperiences of the bankrupt laws around the world, I assume that it is necessary to establishbankrupt law of natural persons.Chapter One of the dissertation, including two parts, gives a summary of bankrupt law ofnatural persons. Part one elaborates the concepts of bankrupt, natural person, and bankrupt ofnatural person, and also compares them with other related concepts. Part two introduces thehistorical evolution and development trend of bankrupt law of natural persons incivial lawcountries and America law countires and bankrupt law of natural persons in Hong Kong,Taiwan.Chapter Two, including three parts, gives a theoretical analysis for the establishment ofChina ‘s bankrupt law of natural persons. Part one discusses the theoretical basis of theestablishment and development of bankrupt law of natural persons from the aspects of rationalchoice of right conflict and right coordination, principle of fair and justice, and the relations ofmarket economy and bankrupt law of natural persons. Part two discusses the necessity of theestablishment of China’s bankrupt law of natural persons from legislation, market economydevelopment, and law enforcement difficulty. Part three discusses the feasibility of theestablishment of China’s bankrupt law of natural persons.Chapter Three, including five parts, discusses the construction of bankrupt law of naturalpersons. Part one introduces the legislative mode of natural persons’ capacity to bankrupt inoverseas and discusses how to construct the system of natural persons’ capacity to bankrupt inChina. Part two discusses how to determine the causes of natural persons’ bankrupt in Chinabased on the introduction of the causes of overseas natural persons’ bankrupt. Part threediscusses how to define and determine exempt property in natural persons’ bankrupt in Chinabased on the introduction of the range of exempt property in natural persons’ bankrupt inoverseas. Part four discusses how to construct natural persons’ bankrupt discharge system in China based on the introduction of the legislation mode of overseas natural persons’ bankruptdischarge. Part five discusses how to construct rehabilitation system of natural persons’bankrupt in China based on the introduction of the legislation mode of rehabilitation ofoverseas natural persons’ bankrupt.The conclusion part gives a summary of the whole dissertation and arrives at theconclusion that in order to meet the demands of market economy development, it is necessaryto establish bankrupt law of natural persons in China, which is of great significance inpromoting the development of market economy, perfecting the legal system construction, andstrengthening social stability and harmonious development.