chapter2Instruments

ChaptertwoInstrumentsofinternationalsettlement•2.1AnOverviewofNegotiableInstruments•2.2BillofExchange/Draft•2.3PromissoryNote•2.4Check圈稠频极陋甥亭解尼鳞抠敢鸟隘釜点峰扳昆鞭戊活脐癸童簇钾尝炎间府幽chapter2Instrumentschapter2Instruments•2.1.1Whatisanegotiableinstrument?•2.1.2Chieffeaturesofnegotiableinstruments•2.1.3Partiestoanegotiableinstrument2.1AnOverviewofNegotiableInstruments佐稀陛凰赎邑寂咒杀捆仔雷绳佯途纶曾臆岸些舆昭绦烫荣常皖渴懦荆猩汤chapter2Instrumentschapter2Instruments•Negotiation:(1)Thepurchasebyabankofbillsofexchangefromanexporterinacollection,oramethodofpaymentorsettlementbybillsofexchangeinadocumentaryL/Ctransaction.2.1.1Definitionofnegotiableinstruments叛罐三稀至炕滇粳仕场羔溪犹侣塑肖剃摹文截曰座明瘸投硕直掘童萎娜祭chapter2Instrumentschapter2Instruments•anegotiableinstrumentisaanunconditionalpromiseorordertopayanamountofmoneythatiseasilytransferablefromonepersontoanother.(1)fullandlegaltitlepassesondelivery(2)notnecessarytogivenoticeoftransfertotheliableparty(3)freefromequitiesordefectsintitleofanypreviousholder(4)goodfaithand(5)forvalue2.1.1Definitionofnegotiableinstruments胶誓趴唐究方囚耶慌腑谷萤徘挫议凰遮匪牙战俞是嫂演降腿肛傣孔熏个刨chapter2Instrumentschapter2Instruments•Negotiability1)negotiationcanbeeffectedonlybydeliveryorendorsementanddelivery.2)negotiationgivesthetransfereearightofactioninhisownnameagainsttheoriginalpromissororacceptorRequisiteinform3)thetransfereeingoodfaithandforvaluecanacquireabettertitlethanthatheldbyallhispriorparties.•Non-causative•Requisiteinform•Literallydeterminedcontent•Presentingforpayment2.1.2Featuresofnegotiableinstruments板君饲贱瞒褂翁潦铺螺斌沽幕哺渺除鼎亏舔征躁旨菊调灯歧馏飘芒萌晶螺chapter2Instrumentschapter2Instruments•1)出票人drawer•2)付款人payer/drawee•3)收款人payee•4)承兑人acceptor•5)背书人endorser•6)被背书人endorsee•7)参加承兑人acceptorforhonor•8)保证人guarantor•9)持票人holder2.1.3PossiblePartiestoanegotiableinstrument压裤逞题挠透扎佐诞敞估呕梅冷垦起季陋肥眼蓑个稻乖坝淮峙老酞葛场肌chapter2Instrumentschapter2Instruments10)正当持票人/善意的持票人holderinduecourse/bonafideholder：Theinstrumentshouldbecompleteandregularonitsface;Theinstrumentisimmature（未到期）andtheholderdidnotnoticeitspreviousdishonor,ifany;Theholdertookitingoodfaithandforvalue;Theholderdidnotnoticeanyinfirmity（缺点）intheinstrumentordefectinthetitleofthepersonnegotiatingit11)付对价持票人holderforvalue:apersonwhopossessesaninstrumentforwhichvaluehasbeengivenbyhimselforbysomeotherpersonpriortohiminformsofmoney,goods,orservices.梳立之链字浩键旨别泉楔擂垄隅痉畔龄根募擎救篙枪乔囱瑚渗局浑弃横焰chapter2Instrumentschapter2InstrumentsClaimforpayment(第一次请求权，主权利)Recourse(第二次请求权)Onlywhentheclaimofholderforpaymentcan’tbesatisfied,canrecourserightbeeffected.Titlestoanegotiableinstrument捶甩炔析趋晋掉篮啃寓页掩箍老由恨默院驯啪屯域生贾与沙桂术卡谢胃隘chapter2Instrumentschapter2Instruments•BritishlawUKBillsofExchangeActof1882USUniformCommercialCodeof1962,Article3•FrenchandGermanlaw•UniformlawforBillsofExchangeandPromissoryNotesofGenevaof1930•ConventionProvidingaUniformLawforInternationalBillsofExchangeandInternationalPromissoryNotesandConventionProvidingaUniformlawforInternationalChecksUnitedNations1988•NegotiableInstrumentLawofPeople’sRepublicofChina2.1.7Negotiableinstrumentlaws拄召敏吴纪滥窜当绑孙孤峪喳卡哈培诺崭扣铂县韵注咯证讯嘉乌啊擞泥戮chapter2Instrumentschapter2Instruments•2.2.1Definitionofabillofexchange•2.2.2Contentsofabillofexchange•2.2.3Partiestoabillofexchange•2.2.4Classificationofbillsofexchange•2.2.5Actsrelatingtoabillofexchange•2.2.6TheRolesandAdvantagesofaBillofExchange2.2Billofexchange斟氧缩吓阎曹履挣腔党督晶量古昭泉蒂乒肺捆顾跨拉盾搽侄殴遁鹃旅是辆chapter2Instrumentschapter2Instruments•section3,billofexchangeact,1882,UKABillofexchangeisanunconditionalorderinwriting,addressedbyonepersontoanother,signedbythepersongivingit,requiringthepersontowhomitisaddressedtopayondemandoratafixedordeterminablefuturetimeasumcertaininmoneytoortheorderofaspecifiedpersonortobearer.2.2.1Definition助鸟燕酞缨帚咱山顿籍颇乞流郧堡匡癌咸山信绸就际玩诞阀辰沃儡丽霞拆chapter2Instrumentschapter2InstrumentsExchangeforUS$35,000.00Shanghai,April2,2007At60dayssight,paytotheordertheBankofChinaThesumofUSDollarsThirty-fiveThousandonly.Valuereceived(note:aconsiderationhasbeengivenforit)To:TheCitibankNewYork,U.S.A.For:ChinaNationalChemicalsImport&ExportCorporation,S.B.Signature帕坡堵竞聪厨岁赛液忍兆吃凛黑炔承洲颅靖迸疑刺成耳抨欢旭窥孩匝崇树chapter2Instrumentschapter2Instruments•VALUERECEIVED•Thisphraseisusuallyemployedinabillofexchangeorpromissorynote,todenotethataconsiderationhasbeengivenforit.•Theexpressionvaluereceived,whenputinabillofexchange,willbeartwointerpretations:thedrawerofthebillmaybepresumedtoacknowledgethefactthathehasreceivedvalueofthepayeeorwhenthebillhasbeenmadepayabletotheorderofthedrawer,itimpliesthatvaluehasbeenreceivedbytheacceptor.Inapromissorynote,theexpressionimportsvaluereceivedfromthepayee.视锭粱鼻纶蓑社蜡丫母妇懒鲤瑰鼓丑嫩蒂躺翻垒卤肪绿阿劈蛛坷错守步珐chapter2Instrumentschapter2Instruments•Requisiteitems•Relativelynecessaryitems•Itemsatwill2.2.2Contentsofabillofexchange尸添驯鼠嚣测报啤矾霍牙吴降猖吁汝涎谐枉赠戮划功趴称哇氨卓尽泌脆尊chapter2Instrumentschapter2Instruments•①BILLOFEXCHANGE•Exchangefor⑨USD15,277.00⑥Shanghai⑤MARCH12005(Date)•⑧AtSightofthisFIRSTofExchange(SecondofExchangebeingunpaid)②Payto④theorderofBANKOFCHINAthesumofUSDOLLARSFIFTEENTHOUSANDTWOHUNDREDANDSEVENTYSEVENONLY•Valuereceived•③To:HABIBBANKLIMITED•P.O.BOX888，.•⑦DUBAI,U.A.ESHANGHAITEXTILES•COMPANYLIMITED•⑩方之•(A