Study on the institutional structure of transferor shareholders'right of repentance in limited liability corporations—Taking the nature of right as a starting point
The repentance right empowers the transferor shareholder unnecessary benefits,leading to an imbalance in the pattern of interests.The nature of the right is also highly controversial.It is necessary to clarify the institutional structure of the right from the interpretive perspective.Transferor shareholders'right of repentance should be regarded as the right to terminate the share transfer contract between shareholders,which is in accordance with the formation of the preemptive right.Considering the special nature of the equity transfer contract of a limited liability company,in addition to the general regulation of the right of rescission,the practice of the repentance right must also satisfy specific elements.Only if transferor shareholders fully fulfill the notification obligations can they exercise this right within a reasonable period of time.
right of repentancepreemptive rightright of rescissionbalance of interests