Valuation Adjustment Mechanism Law Problem Analysis

Private equity investment is an investment in emerging, the momentum of rapid development, the umbrella as a private equity investment in the investment side, for the agreement on gambling in investment is also becoming more frequent. However, no matter from the law or legislation, the agreement on gambling and qualitative regulation were unable to agree on which is right, China is still not standardized legal agreement on gambling. Therefore, it is necessary to study the legal issues related to the agreement on gambling.The first part of this paper in three aspects:subject, object, content ofgambling on the legal relationship of protocol analysis, and in-depth analysis of its causes, to restore the essence of the agreement on gambling "valuation adjustment mechanism", and explains the concept ofthe agreement on gambling.The second part of this article to "China’s first case of gambling"--Admiralty investment case as a perspective, combined with the first or second instance, court of retrial verdict to clarify the judicial organs of China basic attitude for the agreement on gambling. Compare the similarities and differences in the legal level and depth of the agreement on gambling and aleatory contract, loan contract, conditional contract, eventually reached the agreement on gambling in the legal nature of contract is conditional statement. Three aspects in the third part, the proper subject autonomy, fairness and justice are analyzed, respectively, with the theory and practice level, to explore the legitimacy of vam. The fourth part of this paper analyses the present legislative situation for the agreement on gambling and the insufficiency, and the application in practice, and gives the suggestions of legislation and practice guidance. I hope that through this study, can be of help for the legislation and practice.