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

Author: Liang Huixing
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 a market economy, and the "General Principles of Credit" are the fundamental 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 economies 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, and drawing on the experiences of the newly enacted Dutch Civil Code, Mongolian Civil Code, and Russian Civil Code in the 1990s, the "Credit Law" is divided into "General Principles of Credit," "Contract Law," and "Tort Law," with the "General Principles of Credit" section falling under the "Contract Law" section and the "Tort Law" section, thereby maintaining the logical coherence and systematic integrity within the "Credit Law."