This collection of readings places side by side the principal doctrines of contracts, torts, unjust enrichment, and property in the cases of the United States, England, France, Germany and China. It presents code provisions, cases, and other legal materials that describe the law in force, and places each doctrine in its historical context to enable an understanding of the development of law as an ongoing process, in which the resolution of current issues depends upon how past issues were resolved. It both provides a road map of the private law of these jurisdictions, and illustrates how private law has been shaped by history, by the effort to solve common problems, and by differences in culture. This new edition reflects changes in the law, and includes the addition of Chinese Law as a comparative study.

Upon the enactment of Chinese Civil Code, the previous rules that allowed for enlarged state power to annul contracts such as General Principles of Civil Law article 58 §3 and Contract Law article 52 §1-§2 were dropped. Chinese law has gone one step further in promoting freedom of contract. The validity rules now have been streamlined and the previous contradictory and inconsistent treatment between civil juristic acts and contracts, state and private parties eliminated. However, the new legislative technique will unavoidably facilitate asset stripping, the very reason that the paternalistic rules were in place. Through a historical, doctrinal and logical lens, we will show why there can be no effective model of a neutral set of validity rules that could deal with state-owned enterprises in a less than free and competitive market. The only way to make it work is to have SOEs exit most of the competitive industries and focus on areas that serve the policy goals. Also, paternalistic rules concerning the validity of a contract in trading state-assets should be enacted either in the Civil Code or through special legislations and applicable to government, state-owned enterprises and private parties alike.

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