Research On The Enforceability Of Gambling Agreement

In China’s commercial activities,the VAM is a common means of financing.The investor and the target company jointly sign the VAM based on the company’s performance for their own benefit needs.The "enforceability of the VAM agreement" mentioned in this paper includes two aspects: the effectiveness of the VAM agreement and the possibility of performance.The debate on VAM mainly focused on the issue of effectiveness and performance,with the "Huagong Case" as the landmark event.Previously,it mainly focused on the discussion of effectiveness,and later,it focused more on the settlement of performance issues.Although VAM is a new way of financing,there is no relevant law to regulate it,so there is no uniform standard in judicial determination,and judgments mostly rely on the discretion of judges.Therefore,on the basis of fully respecting the party’s autonomy,the smooth performance of the contract should also be guaranteed in legislation.The research content of this paper is mainly divided into the following parts: The first part introduces the background,purpose,research methods,innovations and shortcomings of the topic.The second part is to introduce three cases,namely,"Huagong Company and Yang Forging Company,Pan Yunhu and other companies requesting to acquire shares","Bo Jie and Jiangsu Yichaotang Dendrobium Co.,Ltd.,Zhang Wende requesting companies to acquire shares","Xu Kangning and Nantong Sanjian Holding Co.,Ltd.,Jiangsu Nantong Sanjian Group Co.,Ltd.,equity transfer disputes",and find the main dispute focus of the VAM agreement from the cases.The third part is a legal analysis of the focus of the case,revealing the reasons why the VAM agreement is still controversial in terms of effectiveness and performance.The fourth part is to build a universally applicable rule system through the discussion of the above issues,so as to regulate various problems caused by the gambling behavior.