Research On The Legal Application Of Force Majeure In Gambling Dispute

The word "bet" began to appear frequently in the wake of the 2008 financial crisis."With the continuous development of the market economy and the improvement of the economic system,the diversification of market entities,the general economic contracts signed between various commercial entities can no longer fully meet the needs of real economic development.In the market economic environment where risks and opportunities coexist,commercial subjects pursue the maximization of interests at the same time,based on the control of risks,such special economic contract as valuation adjustment mechanism emerges."valuation adjustment mechanism " is also known as valuation adjustment mechanism.As a special type of contract,it is an innovative financial means widely applicable to modern investment and financing in today’s market economic environment,or a special contractual agreement to solve the problems of uncertain value and information asymmetry between investors and financiers in market economic activities.Simply put,it is to agree on the company’s business situation in the future period of time,that is,to measure the performance,if the performance does not meet the requirements,naturally to give certain compensation.The reason why "valuation adjustment mechanism " means that both parties are in a kind of uncertainty for the agreed interest risk.Therefore,valuation adjustment mechanism is also a kind of agreement with the nature of risk,because in addition to the company’s operating profit,there are various external factors will also cause different degrees of impact on the realization of the goal.Therefore,as such a bet nature of the contract,in the process of performance is bound to produce corresponding disputes.In special periods,such as force majeure,there will be new legal problems in the performance of the contract between the betting parties,which will inevitably affect the performance commitment target or listing commitment target agreed in the betting agreement.Previous studies on gambling agreements mainly focus on the validity of gambling agreements,while the studies on performance and force majeure in the process of performance are not deep enough.This paper mainly discusses how to deal with the factors of force majeure in the performance of the valuation adjustment mechanism,and whether the parties can directly release liability or reduce liability based on force majeure.At the beginning of the article,the definition of the nature of the gambling agreement is briefly analyzed.At the same time,the difference between force majeure and commercial risk and situation change is discussed.Then,relevant judicial cases are selected on the China Legal Documents and Adjudication Network,and the problems faced by force majeure in the gambling agreement are sorted out in the form of case statement,and the application of force majeure is analyzed mainly in combination with the identification standards of the court.In the last chapter,appropriate suggestions are put forward for the commercial subjects of both parties in the face of such a situation,so as to reduce the interest risks of both parties caused by the occurrence of force majeure.