商法英文版NegotiableInstruments.pptVIP

The law on Negotiable Instruments Main Contents 1 An Overview of Negotiable Instruments 2 Bill of Exchange/Draft 3 Promissory Note 4 Check 1.1 What is a negotiable instrument? 1.2 Chief features of negotiable instruments 1.3 Parties to a negotiable instrument 1.1 Definition of negotiable instruments Negotiation : (1) The process of talking about business between the sellers and the buyers. (2) The method of payment or settlement by bills of exchange in a documentary L/C transaction. (3) The transfer of a negotiable instrument to another party. Definition a negotiable instrument is a an unconditional promise or order to pay an amount of money that is easily transferable from one person to another. full and legal title passes on delivery not necessary to give notice of transfer to the liable party free from defects in title of any previous holder good faith and for value 1.2 Features of negotiable instruments Negotiability Non-causative Establishing rights Requisite in form Literally determined content 1.3 Parties to a negotiable instrument 1) drawer 2) payer/drawee 3) payee 4) acceptor 5) endorser 6) endorsee 7) guarantor 8) holder Titles to a negotiable instrument Claim for payment(第一次请求权，主权利) Recourse (第二次请求权) Only when the holder’s claim for payment can’t be satisfied, can recourse right be effected. 2.1 Definition of a bill of exchange 2.2 Contents of a bill of exchange 2.3 Parties to a bill of exchange 2.4 Classification of bills of exchange 2.5 Acts relating to a bill of exchange Article 19 : A bill of exchange is an instrument signed and issued by the drawer, who authorized the drawee to pay unconditionally a certain sum of money to the payee or the holder when at sight or on a specified time. Requisite items Relatively necessary items Items at will A bill must specify the following items: 　　1. The word bill; 　　2. Authorization of unconditional payment; 　　3. A fixed sum; 　　4. The name of the payer;