Relationship Between Negotiable Instruments And Negotiable Instruments

The so-called relationship between bills refers to the rights and obligations between the parties concerned arising from the act of negotiable instruments.

In this relationship of rights and obligations, there are three basic parties.

(L) the drawer.

A drawer is a person who signs and issues a bill on a negotiable instrument, or a person who issues a negotiable instrument.

(2) the drawee.

The payer is subject to

In case of commission, the invoices are also payers, such as promissory notes.

(3) the payee.

The payee is the person who accepts the bill from the drawer and has the right to request payment from the drawee.

In addition to the three basic parties, there are also some non essential parties.

The situation of the non basic parties is more complicated. Different bills act produces different bills. The non basic parties, such as the endorser and the endorser arising from the endorsement act, are the guarantor and the guarantor.

Due to participation, participants and participants.

From the perspective of status, the parties involved in negotiable instrument relations can be divided into bill obligee (creditor) and bill obligor (debtor).

A bill holder is a person who holds a bill and claims the bill right according to the law obligor, that is, the person who requests the other party to pay the bill, also known as the bearer.

The debtor of a bill is a person who is responsible for or fulfilling the obligation of the bill, that is, the payment to the obligee according to the regulations.

The debtor has the principal debtor (also known as the first debtor) and the debtor (also known as the second debtor).

The principal debtor refers to the debtor when Invoicing, such as the invoke of a bill of exchange (the acceptor is the acceptor), the promissory note and the cheque of the cheque.

A debtor from a debtor referring to a non basic party, such as an endorser after endorsement.

The order of the principal debtor is different from that of the debtor in performing the obligations of the bill (mainly to the obligee).

The obligee should first ask for payment to the principal debtor, and only recover money from the debtor when the principal debtor refuses to accept or pay.

From the corresponding position in the circulation of negotiable instruments, the parties involved in the bill can be divided into the former and the latter.

Endorsement is in front of the former hand, endorsement in the latter for the future.

For example, the pfer of endorsement of a bill to B, B and then pfer to C, then for a and B, a is the front hand, B is the back; for B and C, B is the front hand, C is the back hand.

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The right of bill refers to the right of the holder to request the bill debtor to pay the amount of the bill, which includes the right to claim payment and the right of recourse.

The right of claim for payment is also known as the first claim, which means that the holder of a bill exercises the right to request the payment of the amount of the bill to the principal debtor (such as the acceptor of the bill of exchange, the drawer of the promissory note, the payer of the check, etc.).

The right of recourse is the right of the holder to exercise repayment of the bill for the other obligors of the bill, such as the bill of exchange, the drawer of the cheque, the guarantor of the bill, the promissory note, the endorser of the bill, and so on.

That is to say, as a holder, it first has the right to demand the principal debtor of a bill to pay the fare to him. If the principal debtor fails or fails to pay the bill, such as no payment or bankruptcy on account, the holder shall have the right to ask other payment obligor to pay the fare to him.

The exercise of the right of a negotiable instrument refers to the act of a bill owner who prompts the bill debtor to request the instrument to perform the obligations of the bill.

The so-called prompt note is to produce the bill to the debtor for his view and ask for payment.

If the holder does not prompt the bill in the time stipulated by the bill law, it loses the right of recourse.

The prompt presentation of bills is not only the exercise of the right to claim payment, but also the preservation of the right of recourse.

The preservation of the rights of negotiable instruments refers to the efforts made by the rights of negotiable instruments to prevent the loss of the rights of negotiable instruments, such as the interruption of prescription to court, and the refusal of certificates.

The so-called limitation of time refers to the time when the holder of a bill is brought to the court during the validity period of the bill, which requires the effective time of the previous bill to be invalid, and recalculate the limitation period from the time of interruption.

For example, a draft will take effect from February 1st and be valid for 1 months.

In February 26th, the holder filed a lawsuit against the court for some reason, claiming that the limitation of the previous 25 days was invalid, and the time limit was recalculated from 26.

A certificate of rejection is a certificate that proves that a necessary action has been made for the exercise or preservation of the right of a negotiable instrument during the statutory or agreed period, but the result of the act is rejected.

A rejection certificate is generally applied by a holder to a notary office, a court or a bank, after investigation.

The exercise and preservation of the rights of the bearer shall be carried out in the prescribed place and time. According to the law of the negotiable instrument, "the holder shall exercise the rights of the negotiable instrument to the debtor of a negotiable instrument or preserve the rights of the negotiable instrument. It shall be carried out in the place of business and the business hours of the parties to the bill, and the parties to the negotiable instrument shall have their place of business at their domicile."