The Termination Of Share Transfer Of Progressive Payment

In the process of the judicial practice in our country,there's a great controversy about whether share transfer of progressive payment can refer to the article 167 of the contract law.Among the 14 judgments in recent 10 years,the cases refering to law are in the majority,but these judgments didn't list the reason for applicable reference and didn't take the feature of share transfer contract of progressive payment into consideration.Share transfer of progressive payment enable contract to meet the features of sales contract by delivering first and payment by installments.But in terms of the real effect of the article 167 of the contract law,it intends to protect the buyer and it's applicable for contract of consumer.Contract of share transfer belongs to the commercial contract,and both parties of contract are experienced bussinessman.Compared to consumers and merchants,there's great difference between the judgments of the risk and ability of mastering information.So the law should give freedom to the both parties.In addition,because share owns special rights of property and non-property,there are many differences between contract of share transfer and contract of progressive payment.When transferring it has to consider not only the thoughts of both sides,but also the preemption of other shareholders.So share transfer is more complex in transfer process.Full equity delivery should include both the ownership and powers,so the delivery of stock equity and delivery of real goods are different in rules.There's a great difference in risk of transferring because the value of stock rights lie in the company.And in terms of the change of registration and value orientation,contract of share transfer prefers to Rechtsschein Theorie,because the transfer result influence more in company,the third party and the social compared to that of progressive payment.Taking these factors into consideration,share transfer contract of progressive payment only set rules in payment methods,and the article 167 of the contract law is not applicable for the termination.It should be terminated on the base of considering the particularity of stock rights by the general termination in general rules of contract law.To be specific,the termination of appointment and agreement should fully take party's willing into account and legal termination should strictly control the applicable condition by combining the features of the joint stock rights.