Analysis On The Purchase Of Service By Economic Law

Asset management business develops rapidly in China,but because the term "asset management" is not a legal concept,the basic legal relationship of asset management is not clear,and the nature of asset management contract is not uniform,which leads to many problems such as unclear rights and obligations among participants.Among them,how to identify the legal nature of asset management contract is particularly critical.This paper attempts to use the methods of legal hermeneutics and comparative study,based on the unified supervision of asset management business,to analyze that the legal relationship of asset management business has the nature of trust,and draw the conclusion that the asset management contract between investors and financial institutions is a trust contract,which forms a commercial trust relationship between them.Further analysis shows that there are still some obstacles in defining asset management relationship as trust according to trust regulation,but it is feasible to identify asset management relationship through China's Trust Law.The first part of the article puts forward the research on the legal relationship of asset management,pointing out that there are three focuses in the disputes of asset management business: one is the insufficient legal basis for the loss after the failure of investment,the other is the unclear content of the rights of investors,and the third is the unclear obligations of managers.It is pointed out that the core issue of these focus points is the unclear basic legal relationship of asset management disputes.Then it points out that there are legal dilemmas in solving the basic legal relationship problems,which are mainly manifested in the lack of civil rules on legal relationship of asset management and the limitation of "new regulations on asset management" in resolving civil disputes.The second part of the article demonstrates that the relationship between investors and asset managers(financial institutions)established through various asset management products has commonness,that is,the legal nature behind the asset management business regulated by the "New Regulations on Asset Management" is the same.Although the names of products,financial institutions and market access standards are different among asset management,they are only superficial differences.As the essence of asset management business is the same,the direction of investment is the same,and the standard of qualified investors is basically the same,so its asset management products have inherent commonness.In addition,the general idea of "new regulations on asset management" and the provisions of "new regulations on asset management" also reflect the uniformity of the legal relationship of asset management.The third part of the article,on the basis of the common legal relationship behind asset management,further analyses and demonstrates the legal relationship behind asset management.There are four main opinions in academic circles: one is principal-agent theory,the other is trust theory,the third is classification theory,and the fourth is independence theory.This paper holds the view of trust theory and holds that the basic legal relationship behind asset management is trust.After analyzing the constitutive elements of trust,this paper analyses the characteristics of the conformity between asset management and trust from three aspects: the purpose of value-added trust,the essence of meaning expression of parties' asset trust,and the trust characteristics of property independence in asset management.The fourth part of the article is about the perfection of the legal system of asset management.It considers the perfection of the legal system of asset management from the perspectives of "Trust Law" and "New Regulations on Asset Management".In terms of the Trust Law,because the concept of trust in China has congenital defects,the definition of the concept of trust in the Trust Law is improved by clearly judging trust according to three standard elements.In the aspect of "new regulations on asset management",it is pointed out that the nature of trust and the fiduciary obligations of the trustee of asset management should be clarified in Article 2,and the defects of avoiding the nature of asset management should be changed so as to improve the provisions of "new regulations on asset management".