Research on the Statutory Termination of Third-party Interest Contracts

Abstract

The third-party interest contract is not a typed contract, which breaks through the principle of contract relativity and enables the third party to obtain benefits from it, which is a major breakthrough in the legislation of the Civil Code of the People's Republic of China. However, in practice, there are unclear subjects of the right to rescind, unclear rules for exercising it, and unclear legal effects. In this regard, it should be made clear that the subject of the statutory right of rescission is only the parties to the contract, the third party does not enjoy the statutory right of rescission, the third party shall be notified when exercising the right of rescission, and the third party shall not be liable for the termination of the contract for reasons other than that of the third party, and the third party shall be granted an independent litigation status to protect its legitimate rights and interests. Improve the effectiveness of the system in practice, and while improving China's third-party interest contract system, promote China's economic development and maintain social stability.