Study On The Validity And Performance Of VAM Agreements With Target Companies

Since the beginning of this century Mengniu dairy industry to the gambling case,"the betting agreement" is emerging in our country capital market.After the judicial field of "sea rich case" and "Chinese labor case",so that its reputation and influence in the practice of the community has been a larger scope of dissemination.At the same time,because of the great controversy of theory and the different results of court judgments,it has also caused a heated discussion again and again in the theoretical circle.As a contract in the field of investment,"VAM",in terms of its legal nature,belongs to what kind of contract;in terms of its legal effect,whether it is effective in the legal system of our country needs to be sorted out systematically in theory.In this paper,the author analyzes the basic concept,development and classification of "VAM Agreement" systematically from the perspective of "VAM Agreement with the Target Company",and further analyzes its practical significance and judicial differences.Then from the perspective of "Civil Code ·Contract Part" and "Company Law",this paper discusses the validity of VAM,and holds that the conflict of superficial provisions does not affect the validity of VAM.The article further explores the issue of performance after recognizing the validity of VAM,the improvement of legal path,the development of judicial practice and the formulation of specific agreements.This will help us make better use of this tool in a more comprehensive,profound and in-depth manner,help regulate investment and financing activities in the capital market,help relieve downward pressure on the economy in the context of the new crown epidemic,and better release market vitality,so that it can develop towards the direction of compliance and health.This article unifies the law specialized characteristic,carries on the research with the aid of many kinds of analytical methods.First,the use of literature analysis.Through consulting the relevant literature,we can understand the basic situation and historical evolution of "VAM".Through consulting,analyzing and classifying the works of domestic and foreign experts and scholars,we can provide the overall idea and basic materials for the article writing.Second,adopt the comparative analysis method.Will be related to the system at home and abroad are elaborated,explained,compared to identify differences,and according to the reality of our country how to learn.Third,case studies are used.The public case information is collected through the China Judgments Website,the Magic Weapon of Peking University,No Litigation and other platforms,and the focus is to sort out the disputes related to the application and effectiveness of laws,the status quo and the focus of disputes of cases such as the Haifu Case,the Huagong Case and the Yinhaitong Case.The innovation of this paper is to solve the problem of the legal nature of "VAM" and break the obstacles of performance under the background of "Civil Code" and "Jiumin Ji",which is embodied in the research perspective,research methods and research content.Secondly,in terms of methods,this paper analyzes the problems in the legislation and judicial practice of VAM through various research methods,such as literature analysis,comparative study,case study,etc.Thirdly,on the basis of the construction and legal norms of "VAM" in China,this paper innovatively discusses the practical obstacles in the implementation of investors’ rights and interests,and strives to make the system of "VAM" more applicable in practice.