The Disclaimer Of Defect Guarantee Responsibility Of The Auctioneer In Comparative Law Study

With the rapid development of the economy in China,the structure of investment and consuming are facing transformation and promotion.More and more people choose to attend auction to invest in arts works.The auctioneer can give the disclaimer of warranty about the objects of the auction,i.e.they don't take the responsibility of any authenticity,quality and other flaws of the objects.However,it doesn't mean that any disclaimer is valid.How to determine the validity of the disclaimer is the topic of this paper.Before determining the validity of the disclaimer,we need to identify the disclaimer.Therefore,the writer analyzes the legal relationships among the principle,auctioneer and the bidder(including the buyer)from the starting point of relevant laws and regulations in China,and then identify the disclaimer of auctioneer clearly.The writer concludes that to determine the validity of the disclaimer needs to determine the duty to inform the bidder of the flaws and the duty to check the auction objects reasonably.Since the relevant regulations in China are very general,the writer chooses to conduct empirical research,case study and comparative law study.The writer chooses UK law and USA law as the comparative object,summing up the main factors considered in determining the validity of the disclaimer,and then transplants reasonable parts to China.It offers the specific guideline to determine the validity of the disclaimer.Now that the validity of the disclaimer can be determined,the allocation of the risks of the flaws of the auction objects can also be determined.Finally,the writer discusses the good faith principle in the auction legal system in China from a more macroscopic perspective.Through the detailed analysis of the validity of the disclaimer,the writer wish to offer the reference as well as supplement to the general regulation regarding to the auctioneer's disclaimer and the judicial practice.At the same time,the writer hopes that this paper can offer some guidelines to the new arts investors of China who want to invest in the western arts market.