Provisions of the Civil Code on New Year's Money

The provisions of the Civil Code on New Year's Money are mainly related to the legal nature of New Year's Money as a gift, the rights and obligations of the parties concerned, and the ways of dispute settlement that may arise. As a traditional folk custom, there is no special provision in the Civil Code to regulate the New Year's money, but the legal issues involved can be interpreted and applied with reference to the relevant provisions of the Civil Code on gift and property rights.

I. The legal nature of New Year's money

New Year's money is usually a kind of property gifted by the elders to the younger generation, and its legal nature belongs to the act of gift. According to the relevant provisions of the civil code, gift is the giver will give their own property to the donee free of charge, the donee expressed acceptance of the gift contract. Therefore, the pressure money as a gift behavior, should follow the relevant provisions of the civil code on the gift contract.

The rights and obligations of the giver

The giver, as the giver of the New Year's money, has the right to decide the amount, manner and time of the gift. At the same time, the giver is also obliged to deliver the New Year's money to the recipient according to the agreement and to ensure the legality of the New Year's money. If the giver fails to fulfill the obligation of gift according to the agreement, the donee can ask the giver to fulfill it according to the law.

The rights and obligations of the donee

The donee, as the recipient of the New Year's money, has the right to receive and enjoy the property rights and interests brought about by the New Year's money. At the same time, the donee has the obligation to keep and use the money properly and not to use it for illegal purposes or to harm the interests of others. If the donee uses the money for illegal purposes or in violation of the agreement, the donor has the right to demand that the donee bear the corresponding legal responsibility.

Four, the settlement of disputes over New Year's money

In practice, sometimes there are disputes over New Year's money, such as the grantor's remorse and the donee's improper use. For such disputes, the parties concerned can solve them through negotiation and mediation; if they are unable to solve them through negotiation, they can file a lawsuit to the people's court in accordance with the law, and the court will adjudicate according to the specific circumstances.

In summary:

The provisions of the Civil Code on New Year's money are mainly concerned with the legal nature of the act of giving and the rights and obligations of the parties concerned. Although the Civil Code does not have a special provision on New Year's money, it can be interpreted and applied with reference to the relevant provisions of the Civil Code on gift, property rights and so on. In practice, both the giver and the donee should comply with the relevant provisions of the Civil Code to ensure the legality and legitimacy of the New Year's money. When disputes arise, they should be resolved through legal means to safeguard the legitimate rights and interests of the parties.

Legal basis:

The People's Republic of China*** and the Civil Code

Article 657 stipulates:

A gift contract is a contract in which the giver gives his property to the donee free of charge and the donee expresses his acceptance of the gift.

Article 660 of the Chinese People's **** and National Codes

provides:

In the case of a notarized gift contract, or a gift contract of a nature of social welfare or moral obligation such as disaster relief or poverty alleviation which cannot be revoked according to law, if the giver fails to deliver the gifted property, the donee may demand its delivery.

The Chinese People's *** and National Code

Article 663 provides:

The grantor may revoke the gift if the donee:

(1) seriously infringes on the lawful rights and interests of the grantor or the grantor's next of kin;

(2) fails to fulfill the duty of support to the grantor;

(3) fails to fulfill the obligation of support to the grantor;

(3) fails to fulfill the obligation of support to the grantor;

(4) fails to fulfill the obligation of support to the grantor; and (5) fails to fulfill the obligation of support to the grantor. (C) Failure to fulfill the obligations agreed upon in the gift contract.

The right of revocation of the grantor shall be exercised within one year from the date when the grantor knew or should have known the cause of revocation.