Draft of the Civil Code of China with Explanatory Notes - General Provisions on Obligations

Author: Liang, Head of the Research Group
Publisher:
Publish Date: 2006-10-01
Features: The concept of "credit" holds significant importance not only in legal systems and legal thinking but also in social significance. The concept of "credit" is a legal concept that reflects the essence of the market economy, and the "General Principles of Credit" are the basic rules of market transactions. "Contractual Credit" is the norm of market transactions, while "Unjust Enrichment Credit," "Negligent Management Credit," and "Tort Credit" are the abnormalities of market transactions. Given the development of market economy and science and technology since the 20th century, various new forms of transactions and transaction relationships have emerged, along with new types of risks and damages, leading to a rapid increase in the number of rules within the credit law, ultimately resulting in the expansion of credit law. For the sake of formal coordination among the various sections of the Civil Code, drawing on the experience of the Dutch New Civil Code, the Mongolian New Civil Code, and the Russian New Civil Code formulated in the 1990s, the "Credit Law" is specifically divided into the "General Principles of Credit," the "Contract Law," and the "Tort Law," with the "General Principles of Credit" falling under the "Contract Law Section" and the "Tort Law Section," thereby maintaining the logical and systematic integrity within the "Credit Law."