“合同法”的局限:资本认缴制下的责任约束——股东私人出资承诺之公开履行

The Limitations of “Contract Law”:Responsibility under the Capital Subscription System

尽管资本认缴制不一定是适合中国制度环境的最佳资本制,但也并非"空手套白狼"的法律技术。新《公司法》取消了最低注册资本的限制,改实缴制为认缴制,并不意味着股东可以对注册资本及其认缴和履行问题进行随意约定。合同法本身对股东出资契约之安排构成一种法律约束——按照"权利必须善意行使"及"有约必守"的原则,不当约定会产生责任风险。因此,股东应当理性进行出资的认缴承诺,并切实履行相关承诺。当然,基于股东出资契约之组织性契约——"共同行为契约"的本质以及公司法作为团体法、商事法之特质,对股东出资契约之法律规制呈现出一些特别构造,因此,单纯以传统合同法的规则规范股东的出资承诺行为是不够的。公司法以及商事法的特别要求,使"偏向民事"的合同法对股东出资契约的规制存在一定局限。股东出资契约及其责任构造不断游离在公司法与合同法之间,游离在商法与普通私法之间,呈现出一种特别样态。此外,为确保股东间的私人出资承诺能得到遵守,公司登记机关还可采取公开信息披露的方式,对股东承诺及其履行进行公开监管,并且,运用征信评级方法,将股东出资承诺纳入信用评估程序,从公法与私法两个向度,有效约束股东私人出资承诺的设定及履行。

Capital subscription system may not be the best capital system suitable for China,but it is also not a legal technique to ＂gain something from nothing＂.The abandonment of the minimum registered capital and the change from full registered capital contribution to practical registered capital contribution in Corporation Law does not mean that shareholders can do anything about the registered capital and its subscription or performance.＂Contract law＂itself can restrict shareholders＇ freedom on capital contribution with the principles of＂right must be performed in good faith＂and ＂agreement shall be kept＂,because improper agreement creates liability risk.Therefore,shareholders should be rational in capital contribution,effectively performing the relevant contract.Based on the fact that investment contract by the shareholders is some kind of organization contract and ＂common behavior contract＂,and the fact that company law is some kind of group law and commercial law,the contract of shareholdes＇ capital contribution has some special structures.As a result,we find that only regulating the behavior of shareholders in traditional contract law is not enough.The specific requirements of commercial law and company law make the contract law ＂prone to civil law＂has certain limitations.Investment contract and its responsibility clause are very special between company law and contract law,also between commercial law and common law.In addition,in order to ensure the commitments of shareholders＇ contract,the company registration authorities can also adopt the method of public disclosure of information to ensure the commitment of contract,and use credit rating to supervise the capital contribution,and additionally restrain shareholder＇s private behavior of setting and fulfilling commitments effectively from the point of public law and private law.