Research On The Effectiveness Of Equity Transfer Guarantee

Equity transfer guarantees,as a new financing method,have rapidly emerged due to their advantages of flexible operation,low transaction costs,and multiple rounds of financing.In practice,a large number of cases involving equity transfer guarantees have appeared.Although China's current legislation does not establish a concession guarantee system,the court must make a judgment when facing such disputes.Due to the lack of legislation and the inconsistency of theories and theories,judicial judges have different judgments in the same case,conflicts of reasoning,and wrong application of law in disputes over the transfer of equity.Based on the existing theories and the case studies,the author believes that equity transfer and guarantee is a system innovation implemented by commercial entities on the basis that traditionally restricted property rights cannot meet market financing needs.The judiciary should respect the autonomy of commercial entities and value equity transfer The economic value of guaranty and guarantee as a new type of financing means;in theory,the theory of absolute ownership composition should be adopted to give a positive interpretation of the effectiveness of the equity transfer guarantee,so as to resolve the court 's judgment on equity transfer guarantee within the existing legal framework of China In the awkward situation.This article is divided into five parts:In the first chapter,the author systematically sorts out and analyzes the existing theory of equity transfer guarantee.This chapter mainly includes two parts: the first part is to sort out and criticize the main ideas of the early invalidity theory,and points out that the invalidity theory has gradually been overcome by the validity theory;the second part,the author is the most representative of the validity theory Several doctrines were sorted out,and pointed out that under the existing legal framework of our country,judicial judgments should adopt the theory of absolute ownership structure to recognize the substantial transfer of equity in the transfer guarantee,to avoid conflicts between judicial judgments and current legislation.Chapter two,through searching,sorting out and summarizing judicial cases,through empirical research on existing judicial cases,I reflect on the actual status of the equity transfer guarantee system.This chapter is divided into two parts.They organize and analyze the contract effectiveness of equity transfer guarantees,equity attribution,shareholder qualifications,priority compensation status,equity transfer from the courts at various levels and localities from the aspects of internal effectiveness and external effectiveness.Identification of issues such as the legal relationship between a person and an external third party.The third chapter,this chapter is based on the second chapter,corresponding to the determination of the internal and external effectiveness of the equity transfer guarantee by the court,it analyzes the problems exposed by the judicial judgment one by one,and summarizes the court's judgment on the equity transfer guarantee Issues such as different judgments in the same case,unreasonable reasoning,and incorrect application of laws arise in the same case.On this basis,it is further pointed out that its cause lies in the absence of the legislation of the concession guarantee system and the unknown nature of the concession guarantee.In the fourth chapter,under the actual situation of lack of legislation,the author points out that if you want to resolve the various problems exposed in the current judicial judgment,you must make a positive interpretation of the effectiveness of the equity transfer guarantee.This chapter is divided into three parts: 1.Implement the principle of respecting the autonomy of commercial subjects in internal relations.The first part focuses on the analysis of the authenticity of the parties 'intentions,emphasizing the content and motives of the meanings of the parties;at the same time,it emphasizes the equality of the status of commercial subjects,pointing out that the judiciary should respect the autonomous judgment and choice of commercial subjects on risks and benefits.2.Strictly abide by the principle of trust and interest protection in external relations.This section points out that,based on the requirements of public credibility,it is recognized that the substantial transfer of equity is conducive to the protection of the trusted interests of bona fide third parties.3.Pay attention to the financing function of equity transfer guarantee in the measurement of interests.The third part demonstrates its economic value from the function of equity transfer and guarantee as a new financing method that can realize multiple rounds of financing,and points out that in order to ensure the full play of the equity transfer and guarantee financing function,the justice should recognize the substantial transfer of equity.Chapter five,this chapter is divided into two parts.The first part summarily responds to the determination of the internal and external effectiveness of the equity transfer guarantee;the second part is based on affirming the effectiveness of the equity transfer guarantee.Limit the scope of its effectiveness.