A Study Of Law And Economics In The System Of Good Faith Acquisition

Could stolen goods apply to bona fide acquisition system? This is a theoretical and practical problem. Academics often analyze it from bona fide acquisition system's legal theory, the principle of equality, voluntariness and attribution of civil law. It forms three views (affirmation, negation and compromise) from different values and we could not decide which is right. Although "Property Law of People's Republic of China" which was issued in 2007, stipulates bona fide acquisition system in detail, it does not state if stolen goods can apply to it, leaving such a gap which is very bad for regulating practice.Because the essence of stolen goods applying to bona fide acquisition system owes of property ownership and economic interest, some scholars try to analyze from law and economics. The author considers that law and economics takes benefit and efficiency as the basic value target and evaluation standard of the law. Compared with traditional law methods, it is a theory method to analyze economic interest relationship directly. Using this method to analyze if stolen goods can apply to bona fide acquisition system could increase the credibility of judgment greatly.This paper analyzes it from the following five aspects.Part ?:the article describes the research of the topic so far. There is a lot of controversy on the current theory and a blank in domestic legislation. Foreign legislation are also very different. Judicial practice is also under discussion as well. It requires great need to analyze this issue.Part ?:The necessity of research. Traditional research of law uses semantics, logic and principles to analysis. Although this is necessary, but there are still a lot of shortcomings. Using of law and economics to analyze the problem could get the result much directly and accurately and is good for increasing the credibility.Part ?:the article use game theory to analyze, pointing out that this kind of gaming is an asymmetric information game, such kind of game tend to prone to opportunistic behaviors. The purchaser may choose to buy even though they have found some little problem with the goods. The final result of the game leads the stolen goods to be sold successfully. It is a disadvantage to fight for stolen goods trading and some relative crimes.Part ?:This article uses cost-benefit analysis as a tool to analyze the costs and benefits of the situation in the applicable payment process in this system, and compare them in detail, we can make such a conclusion that the costs of bona fide acquisition system of stolen goods is much more than its benefits.Part ?: Analyze from an efficiency view. From the view of Pareto efficiency, bona fide acquisition of stolen goods is actually at the expense of the real owner to protect a third person of goodwill. Later the author makes an in-depth research by Posner theorem and pointes out that the original property right talent is the most cherished person of stolen goods. And the law should regulate that the original oblige has property, however, the third person of goodwill can avoid accident in a cheapest cost.The third person of goodwill is void to apply to bona fide acquisition system.By studying from a variety of law and economics methods, the author draws out such a conclusion: because the applying of stolen goods to bona fide acquisition system has many disadvantages and is not suitable to law and economics, China's legislation should not set up and finally points out some legislative proposals.