Discussing The Application Of Efficient Breach In China Contract Law

As a financial payments instrument and credit voucher, credit cards get aconvenient and efficient superiority.With the facilitatingto people’s lives a country’swell-developed credit card industry and impeccable credit system has become the wayto strength the international economic exchanges by a country at the same time in thebackground of the development of economic globalization.However, a coin has twosides. With the rapid development of credit card industry there aresome risksgraduallybecoming apparent. To be discussed in this article is one of the risks of credit cardtransactions, that’scloned card transactions. The cases of the cloned card disputesrelated to three parties mainly, credit card issuers, cardholders and specially engagedcommercial unit.The basic relationship between the three is defined as the contractualrelationship, and the three parties have their own rights and obligations.But theappearance of the cloned card disrupted the balance between the three.When clonedcard makers or cloned card purchasesconsumed at the merchant, the legitimatecardholders may even be without the knowledge of their credit cardswereforged,andthe merchants do not have the professional ability to identify it generally in the faceof cloned card. Therefore the obligation of cloned card transaction risk preventionfalls on the issuers.In fact, the credit cloned card dispute case occurred frequentlyeven growing year by yearis indicative ofthere are still some defects with the currentChinese banking system in the credit card business. Therefore a new speciallegislation should be made to prevent the appearance of the cloned card.