Administrative law negotiable instrument

Article 50A guarantor shall undertake several liability together with the guaranteed for the draft under guarantee. Article 70 When exercising the right of recourse, the holder may demand the person against whom the right of recourse is exercised to pay the following sum and expenses: 1 the sum payable by the bill of exchange dishonoured; 2 interest, calculated at the rate prescribed by the People's Bank of China, on the sum payable by the bill of exchange, from the date of maturity or from the date of presentment for payment to the date of payment; and 2 the expenses for obtaining relevant evidence of dishonour and for dispatching notices.

Article 42 When accepting a bill of exchange, the drawer shall write "accepted" and the date of acceptance on the front of the bill and sign it. The acceptor or payer has been declared bankrupt according to law or whose business operations have been suspended due to violations of the law.

Where the presentment for acceptance or the presentment for payment by the holder is rejected, the acceptor or the drawee must provide proof of dishonour or statement on reasons for dishonour.

rights and liabilities of parties to negotiable instruments ppt

The term "prior parties" means other persons liable for a negotiable instrument who put their signatures thereon prior to the current signer or holder. If serious losses incur and the case is serious enough to constitute a crime, criminal responsibilities shall be affixed.

Article 33An endorsement shall not have conditions attached, If an endorsement has conditions attached, the conditions do not have the effect on the draft. If the acceptor or payer has failed to produce the certificate of dishonor or the statement on the ground for protest, the acceptor or payer shall bear all the civil responsibilities arising therefrom.

rights of parties to negotiable instruments

If losses are caused to the parties to the instrument as a result of the above-mentioned act committed by a staff member of a financial institution,the said institution and the person who is directly responsible shall be liable for the losses according to law. The endorser shall pay off the sum and expenses, as stipulated in Articles 70 and 71 of this Law, to the holder in case of non-acceptance or non-payment of the bill.

Negotiable instruments law

The endorser shall pay off the sum and expenses, as stipulated in Articles 70 and 71 of this Law, to the holder in case of non-acceptance or non-payment of the bill. Article 75A promissory note shall record the following items Article 18Holders who have lost the right to the negotiable instruments due to the expiry of the validity period for the exercise of the rights to the negotiable instruments or due to the inadequacy of the recordings on the negotiable instruments still enjoy the civil rights and may request the drawers or acceptors to return the interests in equal amount specified in the negotiable instruments unpaid. After receiving the draft for which presentation for acceptance is made, the payer shall sign an acknowledgment for receiving the draft. Article 35 Where in an endorsement "by procuration" is written, the endorsee is entitled to exercise the mandated rights on the bill by endorsement. If the date of payment is not specified on a bill of exchange, the bill is payable at sight. The time limit on the presentation for payment shall be provided for by the People's Bank of China. Dated payment;3. Presentation for acceptance refers to the act of the holder to present the draft and demand for the pledge of the payer to pay. If a draft does not bear the date of payment, it is a draft payable at sight. Article 85The amount on a check may be filled in afterwards by the holder with the authorization of the drawer. Payable at sight;2. A draft may be mortgaged. A form of transfer cheque may be designed and made for cheques used to transfer account, A transfer cheque can only be transferred to another's account, and shall not be paid in cash.

Article 30 The name of endorsee shall be specified when a bill of exchange is endorsed to negotiate or when the exercise of certain part of the right thereon is endorsed to another.

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India Code: Negotiable Instruments Act,