恶意第三人是指在有关经济业务事项交往中，与受托人或者被聘用的人员串通，从事故意损害投资人利益的第三人。恶意第三人是与善意第三人相对应的说法。
而反对者认为该理论保护了交易中的恶意第三人，有违公平和正义。
But the opponents think that this theory has protected the third person who is malicious in the transaction, and has disobeys the equity and justice.
物权行为理论保护恶意第三人的观点是对德国民法关于第三人规范的误解。
It is a misunderstanding to German civil law to hold the viewpoint of juristic act of real right protecting mala fide third party.
在遵从物权行为理论的德国民法中，第三人对前手交易合同瑕疵的知情不为恶意，第三人对出让人无处分权的知情才构成恶意。
In German civil law which obeys the theory of juristic act of real right, the third party's acknowledgement of the former contract's defect is not malicious.
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