ABSTRACT
The 1994 contract also stipulated that JF, upon the conclusion of the contract, would remit RMB 300,000 into PB’s account as a security deposit against risk, and that by the end of 1995, PB would repay JF the RMB 300,000 principal plus the normal yearly interest. After the contract had been signed, JF remitted RMB 300,000 into PB’s account on 2 December 1994. In addition, the 1995 contract stipulated that PB and JF agreed to charge the security deposit of RMB 300,000 against JF’s payment for goods. In 1995, PB invoiced JF for a total amount of RMB 3,009,414. At the end of 1996, the two parties reconciled their accounts and signed an account reconciliation statement, which indicated that, as of January 1996, PB had given 506 cases of CAN1 and 123 cases of 1.25 PET as sales commission for the year of 1995. On 8 May 1997, Wang Jian Xin, an employee of PB, issued a receipt, acknowledging the receipt of 168 cash-prize pull rings (125 of which were “Sunshine Vacation”), 9 drink-prize bottle caps, and 12 pull rings for the exchange of a prize of RMB 50.
