The Reserch On The Nature And Effectiveness Of The Trust Investment Contract And The Fixed-Profit Clause

In recent years,bank deposit interest rate continues to decline,online loan market is surging,and trust investment sector has also developed in full swing.As the result of the influx of more and more non-governmental capital as well as the limited funds absorbed by securities companies under the restrictions of the Securities Law,more clients choose natural persons with professional knowledge as trustees to sign the Trust Investment Agreement,which is often accompanied by guaranteed income agreement.In consideration of the gap of current laws in China,although relevant judicial interpretation is drafted by the Supreme People’s Court,it has not yet been formally issued.There are no clear laws for natural persons’ trust investment sector,so that the trust investment sector,whether in academia or the judiciary,is in the state of contending of a hundred schools of thought.There are also cases of different judgments from different courts with their own reasonable reasons or even different judgments by different judges from the same court.As its increasing influence on capital market,the trust investment sector draws more and more attention from academia.However,there are few research monographs and few information for reference.The Paper attempts to start from analyze the effectiveness of the guarantee clause and contract in representative cases from the perspective of commercial behavior,and propose prudent suggestions and thoughts on the current trust investment sector in China.In addition to the introduction and acknowledgment,the Paper is logically divided into five parts.The first part is a brief introduction of the case mainly discussed in the Paper,is which will lead to the core question in dispute of the Paper,and then cite previous judicial precedents to analyze and extract the reasonable factors in the precedents so as to support the author’s point of view.The second and the third part is a detailed analysis of legal disputes in the main cases,making in-depth analysis on the nature of the trust investment contract and the effectiveness of the guarantee clause.I believe a fact that the trust investment agreement and the supplementary agreement in this case are unnamed commercial contracts which are effective and valid because of compliance with the validity provisions.Among them,the guarantee clause is valid because of the compliance of the fairness principle and within the protection range of interest rate of private lending.The fouth part is to discuss the important effect on the contract of the valid or invalid guarantee clause,on the one kind,somebody think the invalid guarantee clause must lead the whole contract become invalid,but others don’t think so.I promote three opinions and actually I just agree one of them.The fifth part is to put forward some simple improvement suggestions for the related problems based on the above analysis.Suggestions include strengthening the legislation process of the natural persons’ trust investment sector,establishing and improving the supervision in this area.