Auction Law of the People's Republic of China (Adopted at the 20th Meeting of the Standing Committee of the 8th National People's Congress on July 5, 1996)
Chapter V - Legal Liabilities
Should a trustee violate the stipulation of Article 6 of this law by trusting the auction of articles or property rights of which he or she does not have the ownership or of which he or she may not dispose according to law, he or she shall bear liabilities arising thereafter according to law. Should an auctioneer clearly know that a trustee has no ownership of the articles or property rights for auction or that the trustee may not dispose such articles or property rights according to law, he or she shall bear implicative* liabilities.
( International Trade/Commercial Law & e-Commerce Monitor )
W3 since October 3 1993 1993 - 2010
started @The University of Tromsø, Norway, 1993
hosted by The University of Oslo, Norway, since 1998
in fellowship with The Institute of International Commercial Law, Pace University, White Plains, New York, U.S.A.