法条明细

PRC Contract law（*合同法）

合同形式：A10、A11

要约定义和生效：A14、A16

承诺定义和生效：A21、A25、A26

失效：要约A20格式条款A40合同A52合同免责条款A53

PRC Civil procedure law（*民事诉讼法）

被告被管辖的地点：A22、A29

合同选择被管辖的地点：A24、A25

涉外被管辖的地点：A243、A244、A245

侵权：A29

答题方法：

法条，分析，被告 may be liable for…

答完法学原理，给出法条，给出相似的例子

如果没有明确行为，可以进行分类讨论（张买房子那个）

Dispute争论，纠纷comply服从 sue起诉 defamation诽谤

签订sign

答题要点

Q1（合同法）

从下面几个角度考虑：

合同的签订合理吗？（A14）

1.The content indicated内容是否准确。比如买的是什么，什么时候给钱，给多少钱？

2.intention to be bound是否受要约人表明了要受到该要约的约束。比如是否是严肃的讨论，开玩笑的就不行。

Offer还是invitation to offer？

1.如果是offer，对方发来acceptance的时候合同就成立了（A14）

2.如果是invitation，对方发来的是offer，你还要自己发个acceptance才签订成功（A15）

合同是否签订成功？

1.offer发出了，但对方还没有acceptance你就withdraw了，没有签订成功（A17）

2.别人发出要约，当事人要用行为做出acceptance，要是别人替你做出的，除非你委托了否则不可以（A22 A9）

3.成功签订合同之后，offeror对要约做出了实质性变更，则没有成功（A20(4)）

4.若当事人签订合同，但对方是两个公司，则只履行和当事人签合同的公司的要求（案例：Booking）

5.正常合同有offer和acceptance，则在收到acceptance时合同成立（A25）

Q2（电子签名法）

从下面几个角度考虑：

1.所有电子交易都是被允许的（A3）

2.电子证据要是原件（民事诉讼法A68）

Q3（民事诉讼法）

被告被管辖的地点：A22、A29

合同选择被管辖的地点：A24、A25

涉外被管辖的地点：A243、A244、A245

背

要约定义：

对于承诺的方式两种：

是否构成承诺：

格式条款三个要求：

有个套话：

民事诉讼法第几条是被告？拼写？

广告的要求？

消费者权益？

CDA230？

EU有两个单词？

Tort law A36？

为什么要监管？ 金融行业？

怎么监管E-money？美国，EU和china

怎么监管电子支付服务商？EU和china

Q1：

要约定义：

intention to be bound（A14）

No one could reasonably interpret the conversation as a serious business discussion（案例:Ashley）

对于承诺的方式两种：

notice和performing of an act（A22）

是否构成承诺：

Whether a reasonable observer would think there was an assent.

格式条款三个要求：

Reasonable manner、opportunity to review、legal and fair

有个套话：

Contract laws state that an offer once accepted becomes binding.

Chinese contract law states that offers, made on concrete terms become binding when accepted (Art 8, 13, 14 and 21). The acceptance can be indicated in any way, such as by notice or by performing any act as indicated by the offer or by trade practice (Art 22).

合同法规定要约一经接受即具有约束力。

中国合同法规定，以具体条款提出的要约在被接受时具有约束力(第8条、第13条、第14条和第21条)。承诺可以以任何方式表示，例如通过通知或执行要约或贸易惯例所表明的任何行为(第22条)。

Q2: 2 tiers

Q3:

defendant被告 Plaintiff原告 Domicile居住地（A22）

广告的要求：

all countries require advertising to be truthful, honest and substantiate claims made.

（案例：Holiday Advisor说完全可信实则虚假）

消费者权益（A7-A11）：

·Article 7 （安全权）Right to safe products

消费者在购买、使用商品和接受服务时享有人身、财产安全不受损害的权利。

·Article 8（知情权） Right to ‘true’ information

消费者在购买、使用商品和接受服务时享有人身、财产安全不受损害的权利。

·Article 9 （*选择权）Right to free choice

费者享有自主选择商品或者服务的权利。

·Article 10 （公平交易权）Right to a fair deal

消费者享有公平交易的权利。

·Article 11 （求偿权）Right to compensation if suffering damage to self or property

消费者因购买、使用商品或者接受服务受到人身、财产损害的，享有依法获得赔偿的权利。

美国：CDA230、immunity（案例：Zeran起诉AOL）

EU：Notice and Take down

China：Jointly Liability、Tort Law A36

No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.

交互式计算机服务的提供者或用户不得被视为其他信息内容提供者所提供的任何信息的发布者或演讲者。

(1) jointly liable due to the failure of taking necessary measures expeditiously upon receiving the notification of victim (within the scope of further loss).
(2) jointly liable if it knows that the internet user is conducting illegal activity by using its internet service and it doesn’t take any necessary measures.

(1) 网络服务提供者接到通知后未及时采取必要措施的，对损害的扩大部分与该网络用户承担连带责任。

(2) 网络服务提供者知道网络用户利用其网络服务侵害他人民事权益，未采取必要措施的，与该网络用户承担连带责任。

Q4

Why are payment service providers and electronic money issuers regulated?

1. Protection of the economy

2. Proper supervision and accountability of payment service providers

3. Consumer protection

4. Preventing money ‘laundering’

如何监管电子货币

The EU allows banks to issue e-money, and Non-banks are also allowed to issue e-money because the EU encourages competition and innovation. Set up EMI (Electronic Money Institution). But lighter touch than with banks.

Prepaid cards in the same or similar physical or virtual forms used in the retail, hospitality, dinning and service areas and can only be accepted by the issuer, the company group which the issuer belongs to and the branded chain store or franchising operation. And Prepaid Cards Business subject to Payment Service Regulation (Closeloop)

如何监管服务提供商？

欧盟：

1. Payment Institution must have sufficient capital支付机构必须有足够的资金

2. Properly controlled and the controllers are known适当的控制和控制器是已知的

3. Properly governed with adequate systems and controls适当的管理与适当的系统和控制

4. Has risk controls in place风险控制是否到位

中国：

1. Capital requirement: Rmb 100 million for nationwide service! Rmb 30 million for state wide service!

2. Chinese incorporated company only

3. Staffed with five or more senior managers with expertise in payment services

4. Establish an anti money-laundering compliance program

5. Maintain a well-designed governance structure and risk prevention system

Week 1

（该部分法条如无特别说明均为*合同法）

Contract（合同）

legally executed contract has legal binding force依法签订的合同具有法律执行效力的（A8）

合同是一个协议（agreement），双方当事人是自然人（natural person）或者法人（legal person，阿里巴巴，是被抽象成人的）（A2）

Assent indication（同意暗示）是offeree一个承诺（A21）

合同双方必须free negotiated, equity（A4 A5）

若当事人签订合同，但对方是两个公司，则只履行和当事人签合同的公司的要求（案例：Booking）

合同 的5 key requirements：

Offer and unconditional acceptance：我给你个offer你要是不讨价接受了就是无条件接受，讨价的话就是counter offer

Intention to be legally bound：我有这个意图并和你达成协议之后是被法律约束的（卖出后不得反悔）（A14）

Consideration

Capacity：有无能力（没有民事行为能力人是不能进行交易的）（A9）

Formalities (for certain contract)：合同的格式

Offer（要约）

要约是希望和他人订立合同的意思表示（A14）

法院通常认为广告不等于Offer。

Offer什么时候生效？

When the offer reaches the offeree. 到达受要约人时生效（以电子数据文本形式订立合同，电子数据文本首次进入接收系统的时间为到达时间。）

Offer可以撤回（withdraw）或撤销（revoke）吗？

Offer可以撤回（withdraw）。撤回Offer的通知应当在Offer到达受要约人之前或者与Offer到达受要约人同时到达受要约人。（A17）

Offer可以撤销（revoke）。撤销Offer的通知应当在受要约人发出acceptance notice之前到达受要约人。（如果受要约人已经为履行合同作了准备，那么受要约人有理由保持Offer的不可撤销性）（A18）

Offer和Invitation to offer

要约是希望和他人订立合同的意思表示（A14）

要约邀请是希望他人向自己发出要约的意思表示。（A15）

要约（offer）	要约邀请（invitation to offer）
法律行为，有法律意义	事实行为，无法律意义
当事人自己主动提出愿意与他人订立合同的意思表示	希望他人向自己发出要约的意思表示
合同成立，要约人受其要约的约束	被邀请的人发出要约后，要约邀请人并没有做出受到约束的承诺
包括合同的主要条款	无需具备合同主要条款
我要卖mp3	你这个mp3卖不

Acceptance（承诺）

承诺是受要约人同意要约的意思表示。（A21）

承诺生效代表合同生效（A25）

Counter Offer：改变了要约的条款，即讨价还价

什么时候会构成一个acceptance？

Whether a reasonable observer would think there was an assent. （一个理性的观察者是否会认为存在一个同意）

（“沉默”一般不会被视为构成了acceptance）

Acceptance什么时候生效？

When the acceptance notice reaches the offeror. （比如你表达同意意向的邮件到达要约人的邮箱时）（A26）

Acceptance生效的时刻就是合同生效的时刻！(A25)

Acceptance可以撤回（withdraw）吗？

可以。但acceptance的撤回通知应当在acceptance notice到达要约人之前或者与acceptance notice同时到达要约人。也就是说，acceptance的撤销必须在acceptance生效前完成。

要约人（offeror）———offer/卖———>受要约人（offeree）

Standard Term Contract（格式条款合同）

Standard Term Contract是被中国法律认可的一种合同形式，其最大的特点就是“Take it or leave it”（“要么接受要么退出”）。不同于传统的缔结合同的形式，这类合同的条款不是由缔结合同的双方商议出来的，而是企业“施加”给用户的。

如果格式条款发生变化，要告知已签订的用户，即Must be given an opportunity to see the change of the terms（代表案例：Hoang和ActorsDb）（A20(4)）

Standard Terms and condition格式条款三条原则

1. Present the terms to the other party in a reasonable manner（以合理的方式呈现，尤其是免责或减责条款！！只能为“click-wrap” 或 “browser-wrap”别的都不行）

2. Give the other party opportunity to review the terms before accepting the contract（在接受合同之前，给对方审查条款的机会）

Click-wrap：条款可以查看，消费者点击“我同意”按钮或录入电子签名才可以继续缔结合同

Browser-wrap：消费者有机会在浏览网站时查看条款，但条款不会被显示出来

 

Click-wrap                               Browser-wrap

3. 合同条款合法且“Fair”（“Fair”与否由法官决定“Mistake”或“Fraud”）

中国法律是否允许按照标准条款签合同？

Contract law in most countries, including China, allow businesses to contract on ‘standard terms’ as it is not possible to individually negotiate terms in many cases. However, when contracting on standard terms , the law requires that the party must

 Bring the terms to the attention of the party who is to be bound by them

 Give the other party opportunity to review the terms before accepting the contract

 If the above steps are taken, then it is the responsibility of the party accepting the terms to read them. Once accepted, the terms are binding on the accepting party (unless the terms are held by a court of law to be ‘unfair’).

包括中国在内的大多数国家的合同法都允许企业根据“标准条款”订立合同，因为在许多情况下不可能单独协商条款。然而，当订立标准条款时，法律要求当事人必须

•让受这些条款约束的一方注意这些条款

•在接受合同之前，给对方审查条款的机会

•如果采取了上述步骤，那么接受条款的一方有责任阅读条款。一旦被接受，这些条款就对接受方具有约束力(除非这些条款被法庭裁定为“不公平”)。

What are restrictive terms and exemptions in standard clauses？限制性条款和免责条款

These are terms that either limit or exclude liability in a contract, which would otherwise be owed.

The law allows such exemptions and restrictions if they are ‘fair’ but the requirement is that they must be brought to the attention of the other party in a reasonable manner and explanation provided if asked for (in addition to the other requirements as mentioned in Article 39, PrC Contract Law).

这些条款要么限制合同中的责任，要么排除合同中本应承担的责任。

例如，如果航空公司为你携带行李，但丢失了，这将是航空公司的责任，他们必须赔偿你的内容和行李的价值。然而，大多数航空公司将赔偿责任限制在一个上限，通常是800美元。排除责任的条款包括:“我们对访问我们的网站对您的电脑造成的任何损害不承担责任，如果没有病毒，我们不能保证，等等。”这类豁免法律允许和限制是否公平,但要求是他们必须把对方的注意以合理的方式和解释提供要求(除了其他条件A39)。

Electronic Contracting（电子合同）

电子合同的特别在Communication不一样（传递方式、时间不同）

要约和承诺在邮件到达对方邮箱地时候生效（A16，A26）

所有电商网站都是invitation，顾客想买是offer，发货是acceptance

如果法律无效就写set aside

Week 2

（该部分法条如无特别说明均为*电子签名法）

E-transaction（电子交易）

All paperless transactions are‘Legally admissible’在法律上不会因为这是电子而禁止它（not to be denied），电子是被Admissible（法律上可接受的），电子记录也不会被拒绝 （A3）

数据电文原件要求（A5）、保存要求（A6）、可当证据使用（A7）、真实性要求（A8）

电子交易证据的要求：

1.Writing纸质的（确保证据可以随时被访问且一定要是可视的）

       基本要求：看得见；关上之后还能再打开（A4）

2.Original必须是原始文件，不能为复印件（确保文件可以被信任）（民事诉讼法A68）

作用（UNCITRAL MLEC A8）

Give effective expression to the contents carried对所携带的内容进行有效表达

Unfailingly guarantee the contents remain complete and unaltered保证内容保持完整和不变

3.record/ document preservation 需要记录下来

4.signature要被签名

纸质文件有哪些功能？（如果电子也能满足那电子就不会被拒绝）

To provide tangible evidence of the intention of the parties to bind themselves可见的证据

To provide a permanent record of transaction永久记录

To allow authentication by way of a signature可以验证

To allow easy storage in tangible form 容易储存

E-Signature（电子签名）

（该部分法条如无特别说明均为*电子签名法）

e-signature: 所有的电子形式，虹膜，拍照等（包括数字签名）

签名的作用：是我签了这个合同

Identity（我）

1. Identify a person识别一个人

Non-repudiation（签了，我不能反悔）

2. Provide certainty as to the personal involvement of that person in the act of signing 提供有关该人个人参与签署行为的确定性

Authentication（这个，不是别的合同）

3. Associate that person with the content of a document将这个人与文档的内容联系起来

中国对于e-signature的态度

1. All e-signatures are admissible (except in transactions where electronic signatures are not allowed). 所有电子签署均可接受(不允许电子签署的交易除外)。（A14）

2. Grant greater legal certainty to certain signature technologies (Signatures meeting definition of A 13 ‘deemed’ to be reliable认为是可靠的) 赋予某些签名技术更大的法律确定性(A13)

digital signature

They are created and verified by cryptography它们是由密码学创建和验证的

分为

Symmetric cryptography类型（对称加密：只使用一把“钥匙”，只能保证小型用户群的安全，不适合公众使用。）

Asymmetric cryptography类型（非对称加密：公钥（public key）秘钥（private key）对你传输的签名和你的合同进行）

形式

1. Possession or something one has：你拥有什么，记得密码啥的

2. Biometrics or something one is：生理特征

3. Knowledge or something one knows：你知道什么东西

Asymmetric cryptography（法院是认可这个的，或者说只认可这个deemed to be reliable）

公钥（public key）：就签合同那个group的人知道

密钥（private key）：kept secret，只有自己知道

基本原理：

·在一场E-Transaction中，每个人都有一把公钥（Public Key）和一把密钥（Private Key）,每个人的密钥只有自己知道，而每个人的公钥都对这场E- Transaction中的所有人（和你签订合同有关的人）公开。

·（公钥加密私钥解密）Use a public key to encrypt a message, Only corresponding  private key can decrypt the message. Conversely, Encrypt using private key, Only corresponding public key can decrypt.使用公钥加密消息，只有对应的私钥才能解密消息。反之，使用私钥加密，只有对应的公钥才能解密。

·例：一般来说，当用户A使用Asymmetric给用户B发送信息时，A总是有两个目的:

1.让只有B看到真正的信息。

2.让B知道消息是由A发送的。

对于第一个目的，A需要使用B的公钥对信息进行加密。通过这种方式，只有B可以用B的私钥去配对公钥，查看真正的内容（因为只B有自己的私钥）。

对于第二个目的，A需要使用A的私钥加密作者的信息。通过这种方式，每个人(包括B)都可以使用A的公钥去配对私钥，并解密作者信息，可得知消息是由A发送的。

使用非对称加密的三种人

CSP responsibility ：给我发技术的，要定期发证书，确认这两个钥没过期

signatory responsibility：签名的，保护好private key

relying party responsibility：收到并相信签名的，验证这个人对不对

总结

1.电子交易是否合法吗？

《电子商务非示范法》和《电子签名非示范法》涉及创造电子交易的法律确定性。《中国电子签名法》以第3条的规定开始。电子信息和电子签名不应仅仅因为它们是电子形式而否认它们具有法律效力。这一规定还提到了某些必须写在纸上才能具有法律效力的交易。请仔细注意这一规定。

2.如果法律要求“书面交易”，电子交易如何才能满足这一要求？

非标准的MLEC提供了“功能等价”，即注意法律要求所提供的功能，然后在电子世界中找到功能等价。《中国电子签名法》第4条明确规定，“对所携带内容有可见表达、便于查阅参考的数据信息”，属于“书写”。所以只要任何电子信息都可以读取，它就是“书面”形式。

3.如果法律要求“原始”，电子交易如何才能满足这一要求？

中国民事诉讼法典第63条和第68条规定了证据的可采性。第六十三条没有规定“电子证据”，但只要“电子证明”中的事实能够得到证实，“书面证据”、“材料证据”和“视听证据”均可接受。此外，第68条还要求将“原件”提交法院，除非“真正难以”出示原件。但是，《中国电子签名法》第5条明确规定，从创建时可以“不失效”起保证不变，可以对内容进行“有效表达”且易于引用的数据消息，可以被视为“原件”。除这一规定外，必须履行《民事诉讼法》中关于证据的所有其他规定，例如，所有电子证据必须“经过核实，才能作为确定事实的基础”。验证可以采取任何形式。

4.签名的功能是什么？

在编写《示范法》时，考虑了签名的下列职能：确定一个人；提供该人个人参与签署行为的确定性；将该人与文件的内容联系起来。有人指出，此外，一个签名还可以执行各种功能，这取决于所签署的文件的性质。例如，签名可以证明一方的意图受签署合同内容的约束；一个人认可文本的作者的意图；一个人与他人撰写的文件的内容联系起来的意图；事实，以及一个人在给定地点的时间。

5.中国的法律要求在合同上签字时做些什么？已签订的合同在中国法律上的法律意义是什么？没有签字的合同可以是有效的合同吗？

中国的法律并不要求签署所有的合同。有些交易必须签署才能有效，如出售财产、终止通知等。然而，中国的合同法确实承认，一旦合同签订，它就具有约束力。即使法律不要求签署，签署一份文件作为签署了一份文件和上述职能的证据也很重要。

6.如果法律要求“签名”，电子交易如何才能满足这一要求？

根据现有的技术，有很多电子签名的方式。这些方法可能只是简单地在文档上输入名称，或者在电子写字板上用电子手写笔创建签名，生物特征签名和使用密码学的“数字”签名，包括对称的和不对称的。

7.所有电子签名是否均可作为已签署电子交易的证据？根据中国E签名法所规定的，一些使用某些技术的电子签名是否优于其他电子签名，甚至优于手写签名？

《中国电子签名法》第三、第十三条和第十四条规定，所有电子签名均可作为文件已“签署”的证据，但某些签名被认为等同于书面签名。有更高的有效性。这些签名是那些使用不对称密码学和PKI制作的签名。上述中国的规定遵循了2001年《电子签名示范法》的建议，该法为使用PKI签名技术进行的“技术特定”签名创造了额外的法律确定性。

9.PKI签名是否像手写签名？

是的，根据《中国电子签名法》第14条的规定。然而，事实上，这样的签名很可能甚至比手写的签名更可靠。数字签名比手写签名更有可能拥有更大的法律权威。如果在十页上手工签署了一个十页的合同，我们就不能确定前九页没有被修改。但是，如果合同是用数字签名的，第三方可以验证合同的一个字节没有被更改……这是理解技术的功能。

10.如果法律规定了对记录保存的要求，那么电子记录如何才能满足这一要求呢？

MLEC 1996年第九条,提供电子信息是不会被拒绝的法律效力,证据的重量取决于用于生成方法的可靠性,商店或数据信息和通信的可靠性方法保持信息的完整性。

以数据消息的形式提供的信息应给予应有的证据权重。在评估数据消息的证据权重时，应考虑数据消息生成、存储或通信的方式的可靠性、保持信息完整性的方式的可靠性、识别其发起者的方式，以及任何其他相关因素。

《中国电子签名法》第6条和第8条以上述法律为例，规定了电子记录可以被视为证据，如电子记录的完整性必须使法院满意的收件人和接收时间。此外，还必须建立用于生成、传输、存储等的方法的可靠性。这是与数字记录的长期访问有关的技术和操作问题，以及长期管理电子记录的长期访问策略的功能。电子记录管理有几个标准，比如ISO的记录保存标准。

Week 3

Jurisdiction（司法权）

（该部分法条均为*民事诉讼法）

单词含义：defendant被告 Plaintiff原告

Legislative jurisdiction and regulatory competence：Power to prescribe laws. Usually laws apply within the territory only. 立法管辖权和监管权限:制定法律的权力。法律通常只适用于该地区。

Adjudicatory（审判权）：Power of a court to hear a dispute - that is to ‘summon’ the defendant before it, hear the dispute and give its judgment and to enforce its judgment. Decided by the laws of each country depending on its rules or civil procedure or ‘caselaw’. Where the dispute involves people from more than one country, then also which country’s law will apply? (choice of law)

法院审理争议的权力，即“传唤”被告，审理争议，并作出判决和执行判决。由每个国家的法律根据其规则或民事程序或“案例法”决定。如果争议涉及多个国家的人，那么适用哪个国家的法律呢?(法律的选择)

关于被告在哪里判决

1.大原则：被告居住地在哪就在哪判（有两个地方）

Domicile：永久居住地，这是当事人的户口地，老家，纳税，拥有财产等等（济南）

Habitual residence：惯常居所，这是当事人的常住地等等（北京）

2.合同纠纷Contract disputes：合同履行的地点，或者签订的地点

3. 侵权纠纷Tort（侵权等其他damage to reputation行为）：但凡是发生过伤害，受到损失的地方都可以（比如诽谤已经在全国范围内都知道了，那么在全国任意一个地方都可以判决。这样可以最大限度减小伤害，判决后可以在受到伤害的迅速传播）

4. B2C（欧盟）：此时因为消费者就是弱势方，若被告为公司，则选择在原告的居住地判决

Enforcement（执行）

有的时候在中国你成功胜诉了，但被告是美国人，需要他去美国赔偿。如果美国没有这种法律，那么美国警方不会帮你让他赔偿。

因此答题的时候要写：我觉得在中国win a lawsuit，但在美国不一定能enforcement。

Consumer Protect Law（消保法）

（该部分法条均为*消费者权益保护法）

Consumer: A person who buys the goods/ services for own consumption.

消费者:购买商品或服务供自己消费的人。

（法条原理）A2

消保法赋予的消费者的权利

（法条原理）A7-A11

消保法要求要对消费者full disclosure

B2B和B2C

B2B contracts: more freedom

B2C contracts: B has obligations to protect the consumer

为什么要保护消费者？

Consumer welfare, interest, health and safety消费者福利、利益、健康和安全

Protecting against market failure防止市场失灵

Encouraging competition鼓励竞争

Balancing rights of consumer and trader平衡消费者和商人的权利

INTERNET: privacy and info’ security互联网:隐私和信息安全

网上购物只关注消费者在哪买的，物理的身体在哪！

Advertising Law（广告法）

广告的作用：

1. Provides ‘information’ to potential customers为潜在客户提供“信息”

2. Sets up healthy market competition建立健康的市场竞争

3. Benefits both the supplier and the consumer对供应商和消费者都有利

广告不仅受广告所在国法律的监管，同时也受所有可以访问该广告的国家的法律监管

@广告的要求：

all countries require advertising to be truthful, honest and substantiate claims made.

所有国家都要求广告必须真实、诚实和证实所做的声明。

*广告法

第三条　广告应当真实、合法，以健康的表现形式表达广告内容，符合*精神文明建设和弘扬中华民族优秀传统文化的要求。

第四条　广告不得含有虚假或者引人误解的内容，不得欺骗、误导消费者。

广告主应当对广告内容的真实性负责。

中国如何处理广告的问题？

1. 涉及medicines, medical devices, tobacco, pesticides and veterinary medicine（农药和兽药）等的广告，须经*批准后方可发布。

2. 广告公司需对其客户的广告提案进行审查，以确保其符合法律规定

3. 针对儿童设计的广告不得有错误指向性

4. Internet adverts must not interfere with the user's "normal use of the internet" 网络广告不得干扰用户“正常使用网络”（一次点击即关闭）

禁止出现的关键词

ISP Liability（互联网服务提供商的责任）

（本节只讲侵权tort，考试涉及的也只有诽谤defamation）

Defamation（诽谤）：

False statement relating to another person that causes injury to reputation. Speech that is harmful to the reputation of others, be it a natural person or a legal person.

涉及诽谤的三种角色：

Author：一定有责任

Publisher：不一定有

Distributor：责任最低，基本没有

在判断下面两个的责任的时候需要考虑两点：

Actual knowledge：对这件事情的掌握程度，是否懂得这件事是一种诽谤

Control：对这件事的控制程度，比如一些publisher控制能力就大，因为他们可以选择传播还是不传播。

（重点！！）美国、欧盟和中国对待ISP Liability的态度

1. 美国（判例法国家）

将ISP分为三类（无实质性修改就无罪）

名称	定义	解释
INFORMATION CONTENT PROVIDER（信息内容提供商）	Responsible for creating or developing (in whole or in part) information & providing it through the internet or through Interactive Computer Services 负责创建或开发(全部或部分)信息，并通过互联网或交互式计算机服务提供信息	类似中国日报，内容生产商，如果是诽谤则只有它有责任
INTERACTIVE COMPUTER SERVICES（交互式计算机服务）	information service, system, or access software provider* that provides or enables computer access by multiple users to a computer server 提供或允许多个用户访问一台计算机服务器的信息服务、系统或访问软件提供商*	类似微博、B站，只是给诽谤者提供一个平台
*Access Software Provider（访问软件提供商）	Provider of client or server software or enabling tools that allow blocking, screening, filtering, analyzing, disabling, caching, transmitting content 提供客户端或服务器软件或启用工具，允许阻止，筛选，过滤，分析，禁用，缓存，传输内容	类似中国电信，只是给在网络上传输信息提供一个条件

（法条原理）

Section 230 of the CDA, 1996（又称safe harbour 避风港原则，必背）

No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.

交互式计算机服务的提供者或用户不得被视为其他信息内容提供者所提供的任何信息的发布者或演讲者。

根本原因：言论*！！

2.欧盟

将ISP分为三类（“Notice & Take Down”）

名称	定义	解释
HOSTING (Distributor defence)	Must not have actual knowledge of harmful content, is not aware of harmful content and acts expeditiously to remove or disable access to the harmful content 对有害内容没有actual knowledge，不知道有害内容并迅速采取行动删除或禁止访问有害内容	总服务器，例如深圳（笔记里的解释案例）
CACHING（缓存）	Must not originate or modify, must remove material or disable access upon actual knowledge that material removed at original source or court has ordered removal or disablement. 不得发明或修改，必须在得知材料从原始来源或法院已下令移除或失效的情况下移除材料或使其无法访问。	中间过渡的，例如西安
MERE CONDUIT（仅仅传输）conduit	Must not originate or modify content 一定不能原创或修改内容	类似中国电信，只是给在网络上传输信息提供一个条件

3.中国

ISP 有责任监视用户

Article 36 of Chinese Tort Law(*侵权责任法) 必背

Article 36 Where network users or Internet service providers utilize network to commit a tort to other’s civil rights and interests, they shall be subject to tort liability

第三十六条 网络用户、网络服务提供者利用网络侵害他人民事权益的，应当承担侵权责任。

(1) jointly liable due to the failure of taking necessary measures expeditiously upon receiving the notification of victim (within the scope of further loss).
(2) jointly liable if it knows that the internet user is conducting illegal activity by using its internet service and it doesn’t take any necessary measures.

网络用户利用网络服务实施侵权行为的，被侵权人有权通知网络服务提供者采取删除、屏蔽、断开链接等必要措施。

(1) 网络服务提供者接到通知后未及时采取必要措施的，对损害的扩大部分与该网络用户承担连带责任。

(2) 网络服务提供者知道网络用户利用其网络服务侵害他人民事权益，未采取必要措施的，与该网络用户承担连带责任。

Week 4

Money（货币）

（该部分法条均为*商业银行法）

coins （硬币）and banknotes （纸币）– ‘fiat currency’（法定货币）

Who issues money?

The Central Bank（各国的央行） in any country issues coins and banknotes– ‘fiat currency’

The People’s Bank of China（中国人民银行）issues banknotes and coins in China

银行

traditionally currency circulators & main payment service providers传统货币串联员&主要支付服务提供商，至少RMB one billion才能成立

Banking is very highly regulated银行业受到高度监管

监管目标

The protection of investors/consumers保护投资者/消费者

Ensuring that the markets are fair, efficient and transparent确保市场公平、高效、透明

The reduction of systemic risk降低系统风险

The reduction of financial crime金融犯罪的减少

The maintenance of consumer confidence in the financial system维持消费者对金融体系的信心

在线支付的类型

e-money: value issued on a device ( in exchange for ‘fiat currency’ or ‘real’ money)（重点：Exchange Of Value!交换价值）在设备上发行的价值(以换取“法定货币”或“真实”的钱)

e-Payment services: where a third party pays the merchant on behalf of the customer (Third Party Payment Services ) – i.e. Alipay, WeChat第三方代表客户向商户支付(第三方支付服务)-即支付宝，微信

Crypto-currencies: e.g. bitcoins (not issued by any country’s central bank!) 例如比特币(不是由任何国家的央行发行的!) Crypto-currencies是Alt-currencies的一种

为什么银行、E-money和E-payment 监管不同？

银行：存取款为主，大多数情况是长期的，银行为了盈利，会将储户存的钱用于给别的公司放贷，因此风险较大

E-money：不确定存的钱什么时候会被使用，充钱的目的也不是储蓄，很少有长期情况，比如充饭卡可能几天就花完了，风险小。

E-payment：单纯地对资金进行“redirection” (重定向)

E - Money（电子货币）

Electronic money (e-money) - digital alternative to cash（现金的数字替代品）

即用户可以通过存储在银行卡、手机或互联网上的钱进行无现金支付

E-Money user pays E-Money ISSUER in advance for value tobe issued on device电子货币用户预先向电子货币发行者支付在设备上发行的价值

e.g. BUPT lunch card，pre-paid Card（预支付卡）

银行发行电子货币的要求

1. Solid and transparent legal arrangements坚实和透明的法律安排

2. Adequate technical, organisational and procedural safeguards有足够的技术、组织及程序保障

3. Protection against criminal abuse防止刑事虐待

4. Monetary statistics reporting货币统计报告

5. Redeemability of e-money into central bank money at par将电子货币按面值兑换为*银行货币

6. Possibility of reserve requirements准备金要求的可能性

电子货币的关键问题

Fundamental monetary policy concerns基本货币政策问题

Efficient functioning of payment systems and confidence in payment instruments支付系统的有效运作和对支付工具的信心

Protection of customers and merchants保护顾客和商家

Stability of financial markets金融市场稳定

Protection against criminal abuse防止刑事虐待

Market failure市场失灵

E - Payment（电子支付）

The term “payment through the network” as mentioned in these Measures refers to the transfer of monetary funds between payers and payees via public or private networks, including currency exchange, internet payment, mobile phone payment, fixed phone payment, digital TV payment, etc.

本办法所称网络支付，是指通过公、私网络在支付人和受款人之间进行货币资金转移，包括货币兑换、互联网支付、移动电话支付、固定电话支付、数字电视支付等。

电子支付类型

1. Network payments网络支付

       e.g: Internet payment, mobile/phone payment, digital TV payment

2. Prepaid card issuance and acceptance预付卡的发行与受理

3. Bank card business through POS通过POS机办理银行卡业务

4. ‘other payments’ (as ‘innovated’ and regulated from time to time) “其他支付”(不时“创新”和监管)

如何获得商业执照？

1. Capital requirement: Rmb 100 million for nationwide service! Rmb 30 million for state wide service!

2. Chinese incorporated company only

3. Staffed with five or more senior managers with expertise in payment services

4. Establish an anti money-laundering compliance program

5. Maintain a well-designed governance structure and risk prevention system

1. 资金要求:1亿元，服务全国!全国服务3000万元!

2. 只适用于中国注册公司

3.配备5名或5名以上具有支付服务专业知识的高级管理人员

4. 建立反洗钱合规计划

5. 维护完善的治理结构和风险防范体系

E-payment需要如何确保安全性？（强制要求）

1. Password密码

2. Digital certificate/electronic signature, or the one-time password transmitted in a secured channel. 数字证书/电子签名，或在安全通道中传输的一次性密码

3. bio-characteristics(such as fingerprint)生物特征，如指纹

总结：The Chinese payment system has been very disruptive – more revolutionary than the e-payments systems in the EU and the US (which are still largely card based and bank dependant)

- largely disintermediated the banking system

- growing abroad now, to service Chinese travellers and consumers abroad

中国的支付系统非常具有颠覆性——比欧盟和美国的电子支付系统更具革命性(后者仍主要基于银行卡和银行)。

——在很大程度上取消了银行体系的中介作用

——目前正在海外发展，服务海外的中国游客和消费者

Crypto-currency / Alt-currency数字货币

This type of 'money' not linked to any national currency! Created via an algorithm

这种“货币”与任何国家的货币都没有联系!通过算法创建的(比特币)

各国态度

US态度：总体趋于放任态度，部分州有相应的法律和监管机构

EU态度：Crypto-currency 在经济体系中微不足道， 所以不去管 （UK的sandbox是对加密货币监管的尝试）

PRC态度：China prohibited financial institutions and third party payment processors from dealing with bitcoin directly. Bitcoin remained legal for private individuals to own and trade and exchange platforms were allowed to continue business.

（没有被禁止）中国禁止金融机构和第三方支付处理机构直接处理比特币。比特币仍然合法，个人拥有和交易比特币，交易平台被允许继续开展业务。

但加密货币不允许参与市场

总结

Why are payment service providers and electronic money issuers regulated?

为什么支付服务提供商和电子货币发行机构受到监管?

·Reasons for Regulation of any payment service监管任何支付服务的原因

1. Protection of the economy经济保护

2. Proper supervision and accountability of payment service providers对支付服务提供商进行适当的监督和问责

3. Consumer protection消费者保护

4. Preventing money ‘laundering’ 防止资金“洗钱”

·监管银行的原因

1. Prudential -- to reduce the level of risk bank creditors are exposed to (i.e. to protect depositors)

保诚——降低银行债权人面临的风险水平(即保护储户)

2. Systemic risk reduction -- to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures

系统性风险降低——减少银行因不利的交易条件而导致多个或主要银行倒闭的风险

3. Avoid misuse of banks -- to reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime

避免滥用银行——减少银行被用于犯罪目的的风险，例如洗钱

4. Credit allocation -- to direct credit to favored sectors

信贷分配——将信贷导向优惠部门

·监管FinTech（金融科技）行业的原因

to mitigate threats to financial stability such as systemic risks, liquidity risks, cyber risks, third party reliance and governance risks etc - common risks in all countries.

减轻对金融稳定的威胁，如系统性风险、流动性风险、网络风险、第三方依赖和治理风险等，这些都是各国共同面临的风险。

How is electronic money regulated?

如何监管E-Money（电子货币）

·US

no special ‘regulatory’ regime, like EU, created. No definition of e-money. A patchwork of state and federal laws apply. Permission to be taken state by state. Non banks can issue.

没有像欧盟那样建立特殊的“监管”机制。电子货币没有定义。各州和联邦法律的拼凑适用。一个州接一个州的许可。非银行也可以发行。

·EU

EMD provides light touch 'regulation, Supervisory Regime. Law to provide authorization and operating conditions for EMI’s, harmonized across all the member states of the EU for the issuance of e-money

The EU allows banks to issue e-money, and Non-banks are also allowed to issue e-money because the EU encourages competition and innovation. Set up EMI (Electronic Money Institution). But lighter touch than with banks.

E-money issuers are not permitted to make risky loans or investments with the funds they accept from customers and they are subject to special rules for safeguarding and repaying that money.

EMD采用轻触式监管，监管制度。

EU允许银行发行E-money，也允许非银行机构发行E-money，因为欧盟鼓励竞争和创新。设立EMI（electronic money institution允许发行电子货币的法人）。但监管力度比银行宽松。

电子货币发行者不允许用他们从客户那里获得的资金进行高风险贷款或投资，而且他们要遵守保护和偿还这些资金的特殊规则。

·China

Prepaid cards in the same or similar physical or virtual forms used in the retail, hospitality, dinning and service areas and can only be accepted by the issuer, the company group which the issuer belongs to and the branded chain store or franchising operation. And Prepaid Cards Business subject to Payment Service Regulation

预付卡以与零售、酒店、餐饮、服务等领域相同或类似的实物或虚拟形式使用，且仅能被发卡人、发卡人所属的公司集团及品牌连锁店或特许经营机构接受。并且预支付卡受到PSR的管理。

How are payment service providers regulated?

如何监管支付服务提供商?

·US

US – there isn’t a single law. There are different laws that apply, however, consumers are well protected since the 2008 crash, with rules similar to what we saw in the EU. Similarly with China.

美国——没有单一的法律。有不同的法律适用，然而，自2008年金融危机以来，消费者受到了很好的保护，其规则与我们在欧盟看到的类似。与中国相似。

·EU

EU created a single law for two different types of e-payment service providers, the EMI and the PI, to encourage market entrance by innovators of payment services.

Regulated by Payment Services Directive（PSD）, Payment Service providers must comply with the following requirements:

欧盟为两种不同类型的电子支付服务提供商(EMI和PI)制定了单一法律，以鼓励支付服务创新者进入市场。

根据支付服务指令(PSD)，支付服务提供商必须遵守以下要求:

1. Payment Institution must have sufficient capital支付机构必须有足够的资金

2. Properly controlled and the controllers are known适当的控制和控制器是已知的

3. Properly governed with adequate systems and controls适当的管理与适当的系统和控制

4. Has risk controls in place风险控制是否到位

5. Transparent information to be provided to customers and protect their rights and interests向客户提供透明信息，保护其权益

·China

China has a single law to cover different types of e-payment services. Market entry is a little tougher than for EU innovators, but justified because of the volume of transactions that Chinese PSPs handle.

Previously, operated in a ‘grey’ area - not clearly illegal but not completely legal either. At present, only banks and financial institutes can provide payment and settlement services on approval by PBOC.

Payment Service providers need to require Business License.

Make further rules from time to time.

Stricter enforcement of rules.

中国有一部统一的法律来涵盖不同类型的电子支付服务。市场准入比欧盟的创新者要困难一些，但由于中国的psp处理的交易量，这是合理的。

以前，在一个“灰色”区域运作——不明显违法，但也不完全合法。目前，只有银行和金融机构可以提供支付和结算服务，经中国人民银行批准。

支付服务提供商需要有营业执照。

不时地制定进一步的规则。

严格执行规则。

PRC Contract Law（*合同法）

·Article 2 （合同法适用范围）For the purpose of this Law, a contract means an agreement on the establishment, alteration or termination of a civil right-obligation relationship between natural persons, legal persons or other organizations as subjects with equal status.

Agreements on establishing such personal relationships as marriage, adoption and guardianship shall be governed by the provisions of other laws.

本法所称合同是平等主体的自然人、法人、其他组织之间设立、变更、终止民事权利义务关系的协议。

婚姻、收养、监护等有关身份关系的协议，适用其他法律的规定。

·Article 3 （当事人双方平等）The parties to the contract have equal legal status, and neither party may impose its will on the other.

合同当事人的法律地位平等，一方不得将自己的意志强加给另一方。

·Article 4 （要自愿签订free will）The parties shall, pursuant to law, have the right to enter into a contract on their own free will, and no unit or person may unlawfully interfere.

当事人依法享有自愿订立合同的权利，任何单位和个人不得非法干预。

·Article 5 （要公平equity）The parties shall observe the principle of equity in defining each other's rights and obligations.

当事人应当遵循公平原则确定各方的权利和义务。

·Article 6 （要诚实faith）The parties shall observe the principle of good faith in exercising their rights and fulfilling their obligations.

当事人行使权利、履行义务应当遵循诚实信用原则。

·Article 8（合同的约束力）A legally executed contract has legal binding force on the parties. The parties shall fulfill their obligations as contracted, and may not arbitrarily modify or terminate the contract.

A legally executed contract is protected by law.

依法成立的合同，对当事人具有法律约束力。当事人应当按照约定履行自己的义务，不得擅自变更或者解除合同。

依法成立的合同，受法律保护。

·Article 9（订立合同的人）The parties shall, when making a contract, have corresponding capacity for civil rights and civil conduct.

A party may, in accordance with the law, entrust an agent to make a contract.

当事人订立合同，应当具有相应的民事权利能力和民事行为能力。

当事人依法可以委托代理人订立合同。

·Article 10 （合同形式）The parties may, when making a contract, use written form, verbal form or any other form.

The written form shall be adopted if laws or administrative regulations so require. The written form shall be adopted if the parties so agree.

当事人订立合同，有书面形式、口头形式和其他形式。

法律、行政法规规定采用书面形式的，应当采用书面形式。当事人约定采用书面形式的，应当采用书面形式。

·Article 11（书面形式的定义） "Written form" as used herein means any form which renders the information contained in a contract capable of being reproduced in tangible form such as a written agreement, a letter, or electronic text (including telegram, telex, facsimile, electronic data interchange and e-mail.

书面形式是指合同书、信件和数据电文（包括电报、电传、传真、电子数据交换和电子邮件）等可以有形地表现所载内容的形式。

·Article 13（如何订立合同） The parties shall, in making a contract, take the form of offer and acceptance.

当事人订立合同，采取要约、承诺方式。

·Article 14 （要约定义）An "offer" is an intent indication showing the desire to enter into a contract with others, and the intent indication shall conform to the following provisions:

(1) the content indicated shall be concrete and definite;

(2) the offeror shall, as is indicated, be bound by the intent indication upon its acceptance by an offeree.

要约是希望和他人订立合同的意思表示，该意思表示应当符合下列规定：

（一）内容具体确定；

（二）表明经受要约人承诺，要约人即受该意思表示约束。

·Article 15 （要约邀请定义）An invitation for offer is an intent indication showing the desire to receive offers from others. Mailed or delivered price catalogs, auction announcements, invitations for bid, capital-raising prospectus and commercial advertisements are such invitations for offer.

A commercial advertisement shall, if its content conforms to the provisions regarding offers, be deemed an offer.

要约邀请是希望他人向自己发出要约的意思表示。寄送的价目表、拍卖公告、招标公告、招股说明书、商业广告等为要约邀请。

商业广告的内容符合要约规定的，视为要约。

·Article 16 （要约什么时候生效）An offer becomes effective when it reaches the offeree.

If a contract is made in the form of text in electronic data and the receiver has designated a special receiving system to receive such data text, the time at which the text in electronic data enters the designated special system shall be the time of arrival;

if no special receiving system is designated, the time at which the text in electronic data first enters any of the receiver's systems shall be the time of arrival.

要约到达受要约人时生效。

采用数据电文形式订立合同，收件人指定特定系统接收数据电文的，该数据电文进入该特定系统的时间，视为到达时间；

未指定特定系统的，该数据电文进入收件人的任何系统的首次时间，视为到达时间。

·Article 17（要约什么时候可以withdraw）An offer may be withdrawn. The withdrawal notice of an offer shall reach the offeree before or at the same time as the arrival of the offer at the offeree.

要约可以撤回。撤回要约的通知应当在要约到达受要约人之前或者与要约同时到达受要约人。

·Article 18（要约什么时候可以revoke）An offer may be revoked. The revocation notice of an offer shall reach the offeree before the dispatch of an acceptance notice by the offeree.

要约可以撤销。撤销要约的通知应当在受要约人发出承诺通知之前到达受要约人。

·Article 19（要约什么时候can’t revoke）An offer may not be revoked under any of the following conditions:

(1) the offeror has specified a time limit for the acceptance, or has explicitly indicated in any other manner the irrevocability of the offer;

(2) there are grounds for the offeree to maintain the irrevocability of the offer and the offeree has made preparations for the fulfillment of the contract.

有下列情形之一的，要约不得撤销：

（一）要约人确定了承诺期限或者以其他形式明示要约不可撤销；

（二）受要约人有理由认为要约是不可撤销的，并已经为履行合同作了准备工作。

·Article 20（要约失效）An offer loses its effect under any of the following conditions:

(1) a rejection notice of the offer has reached the offeror;

(2) the offeror has revoked the offer pursuant to law;

(3) when the fixed time limit for acceptance expires, the offeree undertakes no acceptance; or

(4) the offeree makes a substantial change of the content of the offer.

有下列情形之一的，要约失效：

（一）拒绝要约的通知到达要约人；

（二）要约人依法撤销要约；

（三）承诺期限届满，受要约人未作出承诺；

（四）受要约人对要约的内容作出实质性变更。

·Article 21（承诺定义）An acceptance is an assent indication of the offeree to an offer.

承诺是受要约人同意要约的意思表示。

·Article 22（怎么承诺）An acceptance shall be made in form of a notice, unless, in light of trade practices or as indicated by the offer, the offeree may indicate the assent by performing an act.

承诺应当以通知的方式作出，但根据交易习惯或者要约表明可以通过行为作出承诺的除外。

·Article 23（承诺到达时间规定）An acceptance shall reach the offeror within the time limit fixed by the offer. If no time limit is fixed by the offer, the acceptance shall reach the offeror in accordance with the following provisions:

(1) if an offer is made orally, acceptance shall be made promptly unless the parties stipulate otherwise; and

(2) if an offer is not made orally, the acceptance shall reach the offeror within a reasonable period of time.

承诺应当在要约确定的期限内到达要约人。

要约没有确定承诺期限的，承诺应当依照下列规定到达：

（一）要约以对话方式作出的，应当即时作出承诺，但当事人另有约定的除外；

（二）要约以非对话方式作出的，承诺应当在合理期限内到达。

·Article 25（合同什么时候生效） A contract is executed at the time when the acceptance becomes effective.

承诺生效时合同成立。

·Article 26（承诺什么时候生效）The acceptance becomes effective when the acceptance notice reaches the offeror. If an acceptance needs no notice, it becomes effective when an act of acceptance is performed in light of trade practices or as indicated by the offer.

Where a contract is made in the form of text in electronic data, the provisions of Paragraph 2, Article 16 of this Law shall be applicable to the time of arrival of the acceptance.

承诺通知到达要约人时生效。承诺不需要通知的，根据交易习惯或者要约的要求作出承诺的行为时生效。

采用数据电文形式订立合同的，承诺到达的时间适用本法第十六条第二款的规定。

·Article 27（承诺什么时候可以withdraw）An acceptance may be withdrawn. The withdrawal notice of the acceptance shall reach the offeror before or at the same time as the acceptance notice reaches the offeror.

承诺可以撤回。撤回承诺的通知应当在承诺通知到达要约人之前或者与承诺通知同时到达要约人。

·Article 30 （实质性变更就是新要约）The content of an acceptance shall be consistent with the content of the offer. If the offeree proposes any substantial change to the content of the offer, it shall constitute a new offer. Changes related to the targeted matter, quantity, quality, price or remuneration, duration of fulfillment, place and mode of fulfillment, liability for breach of contract and method of dispute settlement in a contract are substantial changes to the content of an offer.

承诺的内容应当与要约的内容一致。受要约人对要约的内容作出实质性变更的，为新要约。有关合同标的、数量、质量、价款或者报酬、履行期限、履行地点和方式、违约责任和解决争议方法等的变更，是对要约内容的实质性变更。

·Article 31（没有实质性变更合同依然生效） If an acceptance makes non-substantial changes to the content of the offer, the acceptance shall be effective notwithstanding and the content of the contract shall thus be based on the content of the acceptance, unless the offeror indicates in time its objection thereto, or as indicated in the offer, the acceptance may not make any change to the content of the offer.

承诺对要约的内容作出非实质性变更的，除要约人及时表示反对或者要约表明承诺不得对要约的内容作出任何变更的以外，该承诺有效，合同的内容以承诺的内容为准。

·Article 34（合同在哪成立） The place where the acceptance becomes effective shall be the place where the contract is executed.

Where a contract is made in the form of text in electronic data, the receiver's major place of business is the place of execution of the contract; in the absence of a major place of business, the receiver's habitual residence is the place of execution of the contract. Where the parties stipulate otherwise, such stipulations shall govern.

承诺生效的地点为合同成立的地点。

采用数据电文形式订立合同的，收件人的主营业地为合同成立的地点；没有主营业地的，其经常居住地为合同成立的地点。当事人另有约定的，按照其约定。

·Article 35（合同成立地点规定）If the parties adopt the form of a contract instrument to make a contract, the place where both parties sign or stamp the contract is the place of execution of the contract.

当事人采用合同书形式订立合同的，双方当事人签字或者盖章的地点为合同成立的地点。

·Article 39（格式条款要求和定义） If standard clauses are used in making a contract, the party that provides the standard clauses shall determine the rights and obligations between the parties in accordance with the principle of fairness, and shall call in a reasonable manner the other party's attention to the exemptible and restrictive clauses regarding its liability, and give explanations of such clauses at the request of the other party.

"Standard clauses" means the clauses that are formulated in anticipation by a party for the purpose of repeated usage and that are not a result of consultation with the other party in the making of the contract.

采用格式条款订立合同的，提供格式条款的一方应当遵循公平原则确定当事人之间的权利和义务，并采取合理的方式提请对方注意免除或者限制其责任的条款，按照对方的要求，对该条款予以说明。

格式条款是当事人为了重复使用而预先拟定，并在订立合同时未与对方协商的条款。

·Article 40（格式条款什么时候无效）Standard clauses shall become invalid if they fall under any of the circumstances set forth in Articles 52 and 53 of this Law or if the party that provides the standard clauses exempts itself from the liability, imposes heavier liability on the other party, or precludes the other party from its main rights.

格式条款具有本法第五十二条和第五十三条规定情形的，或者提供格式条款一方免除其责任、加重对方责任、 排除对方主要权利的，该条款无效。

·Article 52（合同什么时候无效）A contract is invalid under any of the following circumstances:

(1) either party enters into the contract by means of fraud or coercion and impairs the State's interests;

(2) there is malicious conspiracy causing damage to the interests of the State, of the collective or of a third party;

(3) there is an attempt to conceal illegal goals under the disguise of legitimate forms;

(4) harm is done to social and public interests; or

(5) mandatory provisions of laws and administrative regulations are violated.

有下列情形之一的，合同无效：

（一）一方以欺诈、胁迫的手段订立合同，损害国家利益；

（二）恶意串通，损害国家、集体或者第三人利益；

（三）以合法形式掩盖非法目的；

（四）损害社会公共利益；

（五）违反法律、行政法规的强制性规定。

·Article 53（合同免责条款什么时候无效）The following clauses on liability exemption in a contract shall be invalid:

(1) those causing physical injury to the other party; or

(2) those causing losses to property to the other party by intention or due to gross negligence.

合同中的下列免责条款无效：

（一）造成对方人身伤害的；

（二）因故意或者重大过失造成对方财产损失的。（指已有财产的损失）

·Article 54（合同怎么变更和撤销）Either party has the right to request a people's court or an arbitration institution to alter or rescind any of the following contracts:

(1) any contract which is made under substantial misunderstanding; or

(2) any contract the making of which lacks fairness. Where a party makes the other party enter into a contract against its true will by means of deceit, coercion or taking advantage of its difficulties, the injured party has the right to request a people's court or an arbitration institution to alter or rescind the contract. Where the request of the party is an alteration to the contract, the people's court or arbitration institution shall not rescind it.

下列合同，当事人一方有权请求人民法院或者仲裁机构变更或者撤销：

（一）因重大误解订立的；

（二）在订立合同时显失公平的。

一方以欺诈、胁迫的手段或者乘人之危，使对方在违背真实意思的情况下订立的合同，受损害方有权请求人民法院或者仲裁机构变更或者撤销。

当事人请求变更的，人民法院或者仲裁机构不得撤销。

·Article 55（撤销权什么时候无效）The right to rescind shall vanish where:

(1) the party with the right to rescind has not exercised it within a year from the date on which it was aware or ought to be aware of the matter for the rescission; or

(2) the party with the right to rescind waivers its right by express indication or by its own act after it was aware of the matter for the rescission.

有下列情形之一的，撤销权消灭：

（一）具有撤销权的当事人自知道或者应当知道撤销事由之日起一年内没有行使撤销权；

（二）具有撤销权的当事人知道撤销事由后明确表示或者以自己的行为放弃撤销权。

·Article 56（合同无效和部分无效有什么后果）An invalid or rescinded contract does not have legal binding force from the outset. If a part of a contract becomes invalid without affecting the validity of the other parts, the other parts remain valid.

无效的合同或者被撤销的合同自始没有法律约束力。合同部分无效，不影响其他部分效力的，其他部分仍然有效。

PRC Electronic Signature Law（*电子签名法）

·Article 2（电子签名和数据电文定义） For the purposes of this Law, electronic signature means the data in electronic form contained in and attached to a data message to be used for identifying the identity of the signatory and for showing that the signatory recognizes what is in the message.

The data message as mentioned in this Law means the information generated, dispatched, received or stored by electronic, optical, magnetic or similar means.

本法所称电子签名，是指数据电文中以电子形式所含、所附用于识别签名人身份并表明签名人认可其中内容的数据。

本法所称数据电文，是指以电子、光学、磁或者类似手段生成、发送、接收或者储存的信息。

·Article 3（电子签名也有法律约束力）The parties concerned may agree to use or not to use electronic signature or data message in such documentations as contracts and other documents, receipts and vouchers in civil activities.

The legal effect of a document, with regard to which the parties concerned have agreed to use electronic signature or data message, shall not be denied only because the form of electronic signature or data message is adopted (certain transactions excluded)

The provisions of the preceding paragraphs shall not be applicable to the following documents:

(1) documents relating to such personal relations as marriage, adoption and succession;

(2) documents relating to the transfer of the rights and interests residing in such real estate as land and houses;

(3) documents relating to termination of such public utility services as water supply, heat supply, gas supply and power supply; and

(4) other circumstances where electronic documentation is not applicable, as provided for by laws and administrative regulations.

民事活动中的合同或者其他文件、单证等文书，当事人可以约定使用或者不使用电子签名、数据电文。

当事人约定使用电子签名、数据电文的文书，不得仅因为其采用电子签名、数据电文的形式而否定其法律效力。

前款规定不适用下列文书：

（一）涉及婚姻、收养、继承等人身关系的；

（二）涉及停止供水、供热、供气等公用事业服务的；

（三）法律、行政法规规定的不适用电子文书的其他情形。

·Article 4（什么样的数据电文有法约力） A data message, which can give visible expression to the contents carried and can readily be picked up for reference, shall be deemed to be the written form which conforms to the requirements of laws and regulations

能够有形地表现所载内容，并可以随时调取查用的数据电文，视为符合法律、法规要求的书面形式。

·Article 5（数据电文原件要求）Data messages that meet the following conditions shall be deemed to satisfy the requirements for the form of the original copies as provided for by laws and regulations:

(1) messages that can give effective expression to the contents carried and can readily be picked up for reference; and

(2) messages that can unfailingly guarantee that the contents remain complete and unaltered from the

time when they are finally generated. And the completeness of the data messages shall not be affected when endorsements are added to the data messages or when their forms are altered in the process of data interchange, storage and display.

符合下列条件的数据电文，视为满足法律、法规规定的原件形式要求：

（一）能够有效地表现所载内容并可供随时调取查用；

（二）能够可靠地保证自最终形成时起，内容保持完整、未被更改。但是，在数据电文上增加背书以及数据交换、储存和显示过程中发生的形式变化不影响数据电文的完整性。

·Article 6（数据电文保存要求）Data messages that meet the following conditions shall be deemed to satisfy the requirements for document preservation as provided for by laws and regulations:

(1)messages that can give effective expression to the contents carried and can readily be picked up for reference;

(2)the format of the data messages is the same as the format when they are generated, dispatched or  received, or although the format is not the same, the contents originally generated, dispatched or received can accurately be expressed; and

(3)messages the addressers and receivers of which and the time of their dispatch and receipt can be identified.

符合下列条件的数据电文，视为满足法律、法规规定的文件保存要求：

（一）能够有效地表现所载内容并可供随时调取查用；

（二）数据电文的格式与其生成、发送或者接收时的格式相同，或者格式不相同但是能够准确表现原来生成、发送或者接收的内容；

（三）能够识别数据电文的发件人、收件人以及发送、接收的时间。

·Article 7（数据电文具有法约力，可以当证据使用）No data messages to be used as evidence shall be rejected simply because they are generated, dispatched, received or stored by electronic, optical, magnetic or similar means.

数据电文不得仅因为其是以电子、光学、磁或者类似手段生成、发送、接收或者储存的而被拒绝作为证据使用。

·Article 8（数据电文真实性要求）The following factors shall be taken into consideration when the truthfulness of data messages to be used as evidence is examined:

(1)the reliability of the methods used for generating, storing or transmitting the data messages;

(2)the reliability of the methods used for keeping the completeness of the contents;

(3)the reliability of the methods for distinguishing the addressers; and

(4)other relevant factors

审查数据电文作为证据的真实性，应当考虑以下因素：

（一）生成、储存或者传递数据电文方法的可靠性；

（二）保持内容完整性方法的可靠性；

（三）用以鉴别发件人方法的可靠性；

（四）其他相关因素。

·Article 9（什么算作发件人发的）Any of the following data messages shall be deemed to be dispatched by the addresser:

(1) the data message is dispatched with authorization of the addresser;

(2) the data message is dispatched automatically by the information system of the addresser; and

(3) verification of the data message made by the receiver in accordance with the method recognized by the addresser proves that the message is identical with the one dispatched. If the parties concerned have agreed otherwise with regard to the matters specified in the preceding paragraph, such agreement shall be complied with.

第九条数据电文有下列情形之一的，视为发件人发送：

（一）经发件人授权发送的；

（二）发件人的信息系统自动发送的；

（三）收件人按照发件人认可的方法对数据电文进行验证后结果相符的。

当事人对前款规定的事项另有约定的，从其约定。

·Article 13（电子签名可靠要求） If an electronic signature concurrently meets the following conditions, it shall be deemed as a reliable electronic signature:

(1) when the creation data of the electronic signature are used for electronic signature, it exclusively belongs to an electronic signatory;

(2) when the signature is entered, its creation data are controlled only by the electronic signatory;

(3) after the signature is entered, any alteration made to the electronic signature can be detected; and

(4) after the signature is entered, any alteration made to the contents and form of a data message can be detected.

The parties concerned may also choose to use the electronic signatures which meet the conditions of reliability they have agreed to.

电子签名同时符合下列条件的，视为可靠的电子签名：

（一）电子签名制作数据用于电子签名时，属于电子签名人专有；

（二）签署时电子签名制作数据仅由电子签名人控制；

（三）签署后对电子签名的任何改动能够被发现；

（四）签署后对数据电文内容和形式的任何改动能够被发现。

当事人也可以选择使用符合其约定的可靠条件的电子签名。

·Article 14（电子签名和手写有相同法约力） A reliable electronic signature shall have equal legal force with handwritten signature or the seal.

可靠的电子签名与手写签名或者盖章具有同等的法律效力。

PRC Civil Procedure Law（*民事诉讼法）

·Article 22 （一般情况被告在自己居住地被告）A civil lawsuit brought against a citizen shall be under the jurisdiction of the people's court of the place where the defendant has his domicile; if the place of the defendant's domicile is different from that of his habitual residence, the lawsuit shall be under the jurisdiction of the people's court of the place of his habitual residence.

A civil lawsuit brought against a legal person or any other organization shall be under the jurisdiction of the people's court of the place where the defendant has his domicile. 

对公民提起的民事诉讼，由被告住所地人民法院管辖；被告住所地与经常居住地不一致的，由经常居住地人民法院管辖。

对法人或者其他组织提起的民事诉讼，由被告住所地人民法院管辖。

·Article 24 （合同纠纷可在被告居住地和合同履行地判决）A lawsuit brought on a contract dispute shall be under the jurisdiction of the people's court of the place where the defendant has his domicile or where the contract is performed.

因合同纠纷提起的诉讼，由被告住所地或者合同履行地人民法院管辖。

·Article 25（合同可规定某一地有专属管辖权） The parties to a contract may agree to choose in their written contract the people's court of the place where the defendant has his domicile, where the contract is performed, where the contract is signed, where the plaintiff has his domicile or where the object of the action is located to exercise jurisdiction over the case, provided that the provisions of this Law regarding jurisdiction by forum level and exclusive jurisdiction are not violated.

合同的双方当事人可以在书面合同中协议选择被告住所地、合同履行地、合同签订地、原告住所地、标的物所在地人民法院管辖，但不得违反本法对级别管辖和专属管辖的规定。

·Article 29 （侵权也可在侵权行为地告）A lawsuit brought on a tortious act shall be under the jurisdiction of the people's court of the place where the tort is committed or where the defendant has his domicile.

因侵权行为提起的诉讼，由侵权行为地或者被告住所地人民法院管辖。

·Article 64 （有责任自己找证据）It is the duty of a party to an action to provide evidence in support of his allegations

当事人对自己提出的主张，有责任提供证据。

·Article 68 （证据应为original）Any document submitted as evidence must be the original. Material evidence must also be original. If it is truly difficult to present the original document or thing, then reproductions, photographs, duplicates or extracts of the original may be submitted.

书证应当提交原件。物证应当提交原物。提交原件或者原物确有困难的，可以提交复制品、照片、副本、节录本。

·Article 243 （被告不在中国境内可以在哪判决）In the case of an action concerning a contract dispute or other disputes over property rights and interests, brought against a defendant who has no domicile within the territory of the People's *, if the contract is signed or performed within the territory of the People's *, or if the object of the action is located within the territory of the People's *, or if the defendant has distrainable property within the territory of the People's *, or if the defendant has its representative office within the territory of the People's *, the people's court of the place where the contract is signed or performed, or where the object of the action is, or where the defendant's distrainable property is located, or where the torts are done, or where the defendant's representative office is located, shall have jurisdiction.

因合同纠纷或者其他财产权益纠纷，对在*领域内没有住所的被告提起的诉讼，如果合同在*领域内签订或者履行，或者诉讼标的物在*领域内，或者被告在*领域内有可供扣押的财产，或者被告在*领域内设有代表机构，可以由合同签订地、合同履行地、诉讼标的物所在地、可供扣押财产所在地、侵权行为地或者代表机构住所地人民法院管辖。

·Article 244 （涉外当事人可以书面选择与发生争议地点有关的法院管辖）Parties to a dispute over a contract concluded with foreign element or over property rights and interests involving foreign element may, through written agreement, choose the court of the place which has practical connections with the dispute to exercise jurisdiction. If a people's court of the People's * is chosen to exercise jurisdiction, the provisions of this Law on jurisdiction by forum level and on exclusive jurisdiction shall not be violated.

涉外合同或者涉外财产权益纠纷的当事人，可以用书面协议选择与争议有实际联系的地点的法院管辖。选择*人民法院管辖的，不得违反本法关于级别管辖和专属管辖的规定。

·Article 245 （涉外被告若不提出异议就是同意被管辖）If in a civil action in respect of a case involving foreign element, the defendant raises no objection to the jurisdiction of a people's court and responds to the action by making his defence, he shall be deemed to have accepted that this people's court has jurisdiction over the case.

涉外民事诉讼的被告对人民法院管辖不提出异议，并应诉答辩的，视为承认该人民法院为有管辖权的法院。

PRC Labor Law （*劳动法）

·Article 10 To establish a labor relationship, a written labor contract shall be concluded.

建立劳动关系，应当订立书面劳动合同。

UNCITRAL Model Law on Electronic（联合国贸易法委员会电子示范法）

·Article 6 Writing （书面形式）

(1) Where the law requires information to be in writing, that requirement is met by a data message if the information contained therein is accessible so as to be usable for subsequent reference. ANY e-signature that is reliable for purpose for which used and identifies signatory.

(3)An electronic signature is presumed to be reliable for the purpose of satisfying the requirement referred to in paragraph 1

凡法律规定资料须为书面形式的，如数据电文所载的资料可查阅以供日后参考之用，则该规定即获该数据电文满足。任何可靠的电子签名目的是用于识别签字人身份。

就满足第1款所提述的要求而言，电子签名被假定为可靠的

·Article 7 Signature （签名）

Where the law requires a signature of a person, that requirement is met in relation to a data message if:

a method is used to identify that person and to indicate that person’s approval of the information contained in the data message; and

that method is as reliable as was appropriate for the purpose for which the data message was generated or communicated, in the light of all the circumstances, including any relevant agreement.

如法律规定任何人须签署，则在以下情况下，该规定就数据电文而言已符合:

一种方法用于识别该人并表明该人批准该数据电文中所载的资料;和

根据所有情况，包括任何有关协定，对于产生或传送数据电文的目的而言，该方法是可靠的，是适当的。

·Article 8 Original（原始文件）

Electronic messages will meet requirement if

Reliable assurance of integrity of information is provided from time of generation

Information capable of being displayed to the person to whom it is to be presented

Criteria for assessing integrity

Essentially, whether the information has remained complete and unaltered, And, If the message can be read

电子讯息符合下列规定：信息的完整性从产生的时候起就得到了可靠的保证；能够被展示给被展示对象的信息

诚信评估准则本质上是，信息是否保持完整和未修改，以及消息是否可以读取

·Article 9 Admissibility and evidential weight of data messages

(1) In any legal proceedings, nothing in the application of the rules of evidence shall apply so as to deny the admissibility of a data message in evidence:

(a) on the sole ground that it is a data message; or,

(b) if it is the best evidence that the person adducing it could reasonably be expected to obtain, on the grounds that it is not in its original form.

第9条数据电文的可接受性和证据的份量

(1)在任何法律诉讼中，不得适用证据规则的任何规定，以拒绝将数据电文作为证据予以接受:

(a)唯一理由是它是一项数据电文;或者,

(b)如该等证据是可合理预期提述该等证据的人可取得的最佳证据，而该等证据的理由是该等证据已不是原来的形式。

PRC Consumer Protect Law（*消费者权益保护法）

·Article 2 （消费者定义）The rights and interests of consumers in purchasing and using commodities or receiving services for daily consumption shall be under the protection of the present Law, or under the protection of other relevant laws and regulations in absence of stipulations in this Law.

消费者为生活消费需要购买、使用商品或者接受服务，其权益受本法保护；本法未作规定的，受其他有关法律、法规保护。

·Article 7 （安全权）Right to safe products

消费者在购买、使用商品和接受服务时享有人身、财产安全不受损害的权利。

·Article 8（知情权） Right to ‘true’ information

消费者在购买、使用商品和接受服务时享有人身、财产安全不受损害的权利。

·Article 9 （*选择权）Right to free choice

费者享有自主选择商品或者服务的权利。

·Article 10 （公平交易权）Right to a fair deal

消费者享有公平交易的权利。

·Article 11 （求偿权）Right to compensation if suffering damage to self or property

消费者因购买、使用商品或者接受服务受到人身、财产损害的，享有依法获得赔偿的权利。

PRC E-Commerce Law（*电子商务法）

·Article 17（保护信息权）E-commerce operators shall comprehensively, truly, accurately and timely disclose the information of goods or services, protect information rights and selection rights of consumers. E-commerce operators shall not deceive or mislead consumers through false or misleading commercial promotion by means of fictitious sale, making up users' appraisal, etc.

电子商务经营者应当全面、真实、准确、及时地披露商品或者服务信息，保障消费者的知情权和选择权。电子商务经营者不得以虚构交易、编造用户评价等方式进行虚假或者引人误解的商业宣传，欺骗、误导消费者。

·Article 18（保护选择权）Where e-commerce operators provide the search result of the goods or service to a consumer based on his interests, hobbies, consumption habits or other characteristics, options not targeting his personal characteristics shall also be provided to such consumer, so as to respect and equally protect the legitimate rights and interests of consumers.

电子商务经营者根据消费者的兴趣爱好、消费习惯等特征向其提供商品或者服务的搜索结果的，应当同时向该消费者提供不针对其个人特征的选项，尊重和平等保护消费者合法权益。

·Article 50（缔结合同时受到保障）E-commerce operators shall clearly, fully and expressly inform users of the steps, important cautions, download methods and other matters of the conclusion of contract, and ensure convenient and complete view, reading and download for users.

E-commerce operators shall ensure that users may correct any input error before submitting their orders.

电子商务经营者应当清晰、全面、明确地告知用户订立合同的步骤、注意事项、下载方法等事项，并保证用户能够便利、完整地阅览和下载。

电子商务经营者应当保证用户在提交订单前可以更正输入错误。

·Article 56（支付成功提供确认信息）Upon completion of the  electronic  payment,  the  electronic  payment  service provider shall, promptly and accurately, provide payment confirmation to the user in the agreed manner

电子支付服务提供者完成电子支付后，应当及时准确地向用户提供符合约定方式的确认支付的信息。

·Article 59 - Article 63（纠纷处理）

第五十九条　电子商务经营者应当建立便捷、有效的投诉、举报机制，公开投诉、举报方式等信息，及时受理并处理投诉、举报。

第六十条　电子商务争议可以通过协商和解，请求消费者组织、行业协会或者其他依法成立的调解组织调解，向有关部门投诉，提请仲裁，或者提起诉讼等方式解决。

第六十一条　消费者在电子商务平台购买商品或者接受服务，与平台内经营者发生争议时，电子商务平台经营者应当积极协助消费者维护合法权益。

第六十二条　在电子商务争议处理中，电子商务经营者应当提供原始合同和交易记录。因电子商务经营者丢失、伪造、篡改、销毁、隐匿或者拒绝提供前述资料，致使人民法院、仲裁机构或者有关机关无法查明事实的，电子商务经营者应当承担相应的法律责任。

第六十三条　电子商务平台经营者可以建立争议在线解决机制，制定并公示争议解决规则，根据自愿原则，公平、公正地解决当事人的争议。

Communications Decency Act（美国通信规范法）

·Section 230 No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider.

交互式计算机服务的提供者或用户不得被视为其他信息内容提供者所提供的任何信息的发布者或演讲者。

Chinese Tort Law(*侵权责任法)

·Article 36 Where network users or Internet service providers utilize network to commit a tort to other’s civil rights and interests, they shall be subject to tort liability

(1) jointly liable due to the failure of taking necessary measures expeditiously upon receiving the notification of victim (within the scope of further loss).
(2) jointly liable if it knows that the internet user is conducting illegal activity by using its internet service and it doesn’t take any necessary measures.

网络用户、网络服务提供者利用网络侵害他人民事权益的，应当承担侵权责任。

网络用户利用网络服务实施侵权行为的，被侵权人有权通知网络服务提供者采取删除、屏蔽、断开链接等必要措施。

(1) 网络服务提供者接到通知后未及时采取必要措施的，对损害的扩大部分与该网络用户承担连带责任。

(2) 网络服务提供者知道网络用户利用其网络服务侵害他人民事权益，未采取必要措施的，与该网络用户承担连带责任。

Law of the People's * on Commercial Banks (*商业银行法)

·Article 1 This Law is enacted in order to protect the lawful rights and interests of commercial banks, depositors and other clients, to standardize the behavior of commercial banks, to raise the quality of credit assets, to strengthen supervision and control, to ensure the stable and sound operation of commercial banks, to maintain financial order and to promote the development of the socialist market economy.

为了保护商业银行、存款人和其他客户的合法权益，规范商业银行的行为，提高信贷资产质量，加强监督管理，保障商业银行的稳健运行，维护金融秩序，促进*市场经济的发展，制定本法。

·Article 2 For the purposes of this Law, the term “commercial banks” means enterprise legal persons that are established in conformity with this Law and the Company Law of the People’s * and that take in deposits from the general public, grant loans, handle settlements, etc.

本法所称的商业银行是指依照本法和《*公司法》设立的吸收公众存款、发放贷款、办理结算等业务的企业法人。

·Article 11 The establishment of commercial banks shall be subject to examination and approval by the banking regulatory authority under the State Council.

No unit or individual may engage in commercial banking business such as taking in deposits from the general public, and no unit may use the word “bank” in its name, without approval of the banking regulatory authority under the State Council.

设立商业银行，应当经国务院银行业监督管理机构审查批准。

未经国务院银行业监督管理机构批准，任何单位和个人不得从事吸收公众存款等商业银行业务，任何单位不得在名称中使用“银行”字样。

·Article 13 The minimum amount of registered capital required for the establishment of a national commercial bank shall be RMB one billion yuan. The minimum amount of registered capital required for the establishment of an urban commercial bank shall be 100 million yuan, and the minimum amount of registered capital required for the establishment of a rural commercial bank shall be 50 million yuan. Registered capital shall be paid-up capital.

设立全国性商业银行的注册资本最低限额为十亿元人民币。设立城市商业银行的注册资本最低限额为一亿元人民币，设立农村商业银行的注册资本最低限额为五千万元人民币。注册资本应当是实缴资本。

·Article 32 Commercial banks shall place a deposit reserve with the People’s Bank of China and maintain sufficient provision for payment, in accordance with the regulations of the People’s Bank of China.

商业银行应当按照中国人民银行的规定，向中国人民银行交存存款准备金，留足备付金。

·Article 33 Commercial banks shall guaranty, and may not delay or refuse, payment of the principal of deposits and the interest thereon.

商业银行应当保证存款本金和利息的支付，不得拖延、拒绝支付存款本金和利息。

·Article 81 Any unit or individual, without approval of the banking regulatory authority under the State Council, establishes a commercial bank, or illegally takes in deposits from the general public or does so in disguised form, which is serious enough to constitute a crime, criminal responsibility shall be investigated according to law, and such a commercial bank shall be closed down by the banking regulatory authority under the State Council.

未经国务院银行业监督管理机构批准，擅自设立商业银行，或者非法吸收公众存款、变相吸收公众存款，构成犯罪的，依法追究刑事责任；并由国务院银行业监督管理机构予以取缔。

伪造、变造、转让商业银行经营许可证，构成犯罪的，依法追究刑事责任。

European Electronic Money Directive（欧洲电子货币指令）

·Article 2 “electronic money” means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions … and which is accepted by a natural or legal person other than the electronic money issuer.

“电子货币”是指电子的，包括磁的，存储的货币价值，其表现为对发行者的权利要求，在收到资金时为进行支付交易而发行，并由电子货币发行者以外的自然人或法人接受。