The Judicature Development In Legality Of Valuation Adjustment Mechanism

This thesis can be divided into three chapters.Chapter ? is Problem Introduction.Based on two classic cases,it shows the change of thinking process on Valuation Adjustment Mechanism("VAM")from judges.HAIFU v.SHIHENG is the first case the author cited whose meaning is that it's the first VAM case which comes into judicial field and brings much controversy.RUIFENG v.DINGFA&ZHU,LIQI is the second case the author cited.It's classic because the judges are free from traditional civil law thinking model and explicitly listed four principals on how to judge VAM.The reason of the development above is that the academia and practical circle now have a more deep and accurate understanding of VAM.In this thesis,the author will show the process of such development and then explicit the nature and judging logic of VAM.Chapter ? is divided into three sections,the topic of this chapter is VAM's maladjustment to traditional judging logic,and that's also the reason why HAIFU v.SHIHENG brings so much controversy.Section ? is about the uncertain condition of VAM,it studies the categories and nature of uncertain conditions in VAM.Section ?is the comparison of the conditional contract in traditional civil law and the uncertain condition in VAM,after analysis it finds that according to Zejian Wang,VAM is not a kind of conditional contracts in traditional civil law.Section ? concludes that VAM does bring judgement obstacle to the judicial on the basis of the study in two sections above.Chapter ? is about how to solve the problems on judgement of VAM.Based on VAM's maladjustment to traditional judging logic,here the author explores VAM's own judging logic.This chapter is also divided into three sections.Section ?demonstrates VAM is a classic commercial contract in the way of its theoretical basis and practical significance.Section ? summarizes the judgments on VAM from different courts after HAIFU v.SHIHENG,and concludes their tendency and reasonableness.On the basis of the nature of VAM and reasonableness of judgments on VAM over the years,the last section is to find how to manage the judgement principals in VAMAt last,it's conclusion:As VAM is classic commercial contracts,we should show more respect on the principle of autonomy of will when we judge them.