Abstract
The transfer of a mining company’s stock equity and the transfer of its mining rights as its properties are different in nature
Collegial Bench for the Second Instance: Qinglin Jia, Jianhua Wu and Di Yang
Edited by Deqiang Han; translated by Zuoyong Liu
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Notes
- 1.
The current Article 562 of the Civil Code provides, “(t)he parties may terminate a contract by agreement through negotiation. The parties may stipulate the causes for the rescission of a contract by one party, and if one or more than one of the stipulated causes of rescission occurs, the party with the right to terminate the contract may do so.” Infra.
- 2.
The current Article 563 of the Civil Code provides: “(t)he parties may terminate a contract when one or more than one of the following circumstances occurs: (1) the purpose of the contract cannot be achieved due to force majeure; (2) prior to the expiration of the term for performance, either party expressly states or indicates through its conducts that it will not fulfill its main obligation; (3) the other party still fails to perform its main obligations delayed within a reasonable time after having been demanded for such performance; (4) the purpose of a contract cannot be realized due to the delay in performance of its obligations or other breaches by either party; and (5) other circumstances as provided by law. In the case of a nonfixed-term contract involving ongoing performance, either party may terminate the contract at any time provided that the other party is notified in advance of a reasonable period.” Infra.
- 3.
The current Articles 119 and 465 of the Civil Code. Article 119 of the Civil Code provides, “(a) lawfully established contract is legally binding on the parties.” Article 465 hereof provides, “(a) lawfully established contract shall be safeguarded by law and shall be legally binding only on the parties thereto except as otherwise provided by law.”
- 4.
The current Article 565 of the Civil Code provides, “(i)f one party requests to rescind a contract by law, it shall notify the other party, and the contract shall be terminated when the notification reaches the other party. The notification may state that if the debtor fails to perform its obligations within a certain period of time specified in the notification, the contract shall be automatically terminated. If the debtor fails to perform its obligations within such period of time, the contract shall be terminated upon the expiration of the period specified in the notification. If the other party objects to such rescission of a contract, either party may request a people's court or an arbitration institution to confirm the validity of such rescission. If one party, without notifying the other party in advance, requests to terminate a contract by law by bringing a lawsuit or applying for arbitration, and a people's court or an arbitration institution supports the request, the contract shall be terminated upon the service of a copy of the statement of complaint or the arbitration application to the other party.”
- 5.
The current Article 568 of the Civil Code provides, “(w)here the parties owe obligations to each other and the subject matters of the obligations are the same in type and quality, either party may set off its obligations against these of the other party except for otherwise provided by laws, agreements between the parties or by the nature of obligations. If the parties request set-off, the notification of such set-off shall be given to, and shall be effective upon its arrival at, the other party. The set-off shall not be subject to any conditions or time limits.”
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Jia, Q., Yang, D. (2022). Laiwu Mining Co., Ltd. of Laiwu Steel Group Limited v. Shanxi Jinghai Industrial Co., Ltd., Fengzhen Xinxin Powdered Iron Co., Ltd., et al.. In: Selected Cases from the Supreme People’s Court of the People’s Republic of China. Library of Selected Cases from the Chinese Court. Springer, Singapore. https://doi.org/10.1007/978-981-16-8410-4_33
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DOI: https://doi.org/10.1007/978-981-16-8410-4_33
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