Research Punitive Damages Of Consumer Protection Law

With the development of the social division of labor and the modern large-scale production, market operators and consumers, standing at both ends of the transaction which opposed to economic interests. In reality the transaction, because of asymmetric information between consumers and operators, transaction costs and bounded rationality, leading both sides there are not only the interests of the morphological differences, but also, often accompanied by a sharp conflict of interests. In the conflict, the damage caused due to the weak position of consumers, often in the operators of fraud and other malicious acts, and a huge risk. As a response to various countries around the world to strengthen the formulation of consumer protection laws to be regulation and adjust the behavior of the operators, the punitive damages system was born. Punitive damages system first produced in the common law system, after gradually extended to other countries and regions, including traditionally do not agree with this system some civil law countries and regions. China’s Consumer Protection Law, enacted in1993, and49of the Act establishing the punitive damages system has created a precedent in the law of punitive damages system. Punitive damages system established in China’s Consumer Protection Law, to promote consumer protection movement in China, and produced a number of positive impact on illegal business activities and safeguard the interests of consumers and to protect the public interest. However, with the further development of economic and social,"Consumer Protection Law" Article49also exposed many shortcomings, such as:"consumers", the definition of the concept of "fraud","unit","Know the false buy false "is not a consumer, the amount of punitive damages set benchmark problems, lack of means of protection, which affected the further development of the China’s punitive damages system. Practice has proved that, with the changing of the social environment, the provisions of section49of the Consumer Protection Law has not been able to meet the needs of the community showed its lack of stamina, affect the play of the system should function. This paper is divided into four parts:The first part focuses primarily on the general theory of the system of punitive damages, and punitive damages system property identified; The second part discusses the function and the pursuit of value of punitive damages system in the field of consumer protection; The third part, on the punitive damages system of "consumer protection" and focus on the shortcomings of the system in practical applications; Part IV, rationalization of views, in order to improve the "Consumer Protection Law" punitive damages system.