Study On The Broker's Duty Of Disclosure For House Sale

The duty of disclosure in good faith is significant in respect of the intermediary regime,which is not only an important legal measure to recrify the unbalance of information,but also the requirement of the principle of good faith for broker's performance of contractual obligation.However,with the considerable development in real estate market,disputes caused by the broker's failure performance of duty of disclosure in good faith are increasing gradually,further with the ambiguous opinions in judicial practice,such as the standard of the disclosed contents,the categories of the disclosed information,whether the brokers are obliged to investigate and verify the facts and the civil liabilities undertaken by the brokers,resulting in an unsatisfied situation under which the current rules of law cannot adequately regulate the civil society.The scholars of civil law and commercial law continuously concentrate more on the assured's duty of utmost good faith in insurance law but with little attention paid on the broker's duty of disclosure in good faith.This dissertation aims to research on three-tier propositions,containing the standards of broker's duty of disclosure in good faith in housing transactions,the scope of the performance of the duty of disclosure in good faith and the liabilities for breach of the duty of disclosure in good faith based on the empirical approach and case analysis.Furthermore,it will analyze and consummate the regime of the broker's duty of disclosure in good faith in housing transactions in the perspectives of law,legal economics and legal hermeneutic,aiming to reveal the true connotation in reality of Article 425 of China Contract Law and provide references to the trial of similar cases in judicial practice.Besides the sections of introduction and conclusion,this dissertation contains five sections to argue:Section 1:Clarification of relevant definitions.The writer will clarify the definition and categories of the brokers in the house sale,the definition and nature of the broker's duty of disclosure in good faith based on the judicial practice.In addition,this section will limit the scope of the research of this dissertation,within which the brokers here refer to only the ones who supply real estate information and intermediary service and whose subject status is artificial person or unincorporated organization.Besides,this dissertation will no longer distinguish the reporting intermediary and medium intermediary.Section 2:The necessity to found the broker's duty of disclosure in good faith.The writer will reveal the factual foundation and legal foundation of the origin and development of the broker's duty of disclosure in good faith in the perspectives of economics and law.Furthermore,the establishment of the intermediary game model will be used to reveal the function of the duty to overcome the market failures,aiming to emphasize the legal status of the duty of disclosure in good faith.Section 3:Analysis of the current status of the broker's duty of disclosure in good faith.The writer will use the empirical approach to come up a transversely and longitudinally comparative analysis of the rules of law and cases in respect of the broker's duty of disclosure in good faith,aiming to analyze the current status of the regime and the performance of the broker's duty of disclosure in good faith.Section 4:The framework of the regime of the broker's duty of disclosure in good faith.The writer will adopt the doctrine of hermeneutic to consummate the current regime in four perspectives by clarifying the standard of the contents of the duty of disclosure in good faith,summarizing the types of information disclosed,ascertaining the extent of the duty and proposing the means to perform the duty.Section 5:The liabilities for the breach of the duty of disclosure in good faith.The writer will analyze the broker's liabilities for breach of the duty to argue the regime of the duty of disclosure in good faith more sufficiently,mainly in the four tiers,containing the appearance of the liabilities for breach of the duty,the nature of the liabilities,the distribution of the liablilities and the exceptions of the liabilities.Within which,the dissertation will mostly focus on the analysis of the nature of the brokers' liability of damages and its distribution brtween the broker and his counterpart to conclude that the liability of damages could be appropriate to be solved in the framework of the liabilities for breach of the contracts and the relativity principle of contracts should be strictly obeyed when considering the distribution of the liability.