Research On The Blank Instruments

This thesis compares through analysis the legislative rules pertaining to blank instruments in two major systems of law, focusing research on questions relating to its implications, formation, supplementary rights and legal effect etc, in the hope of summarizing its main content. Due to the fact that People Republic of China's (PRC) Billing Law blank cheque rules are overtly simplistic and lack precision, this dissertation combines the current state of the economic life of the PRC, appraises blank instrument rules and finally offers some suggestions for the legislature.Basic OutlinePreface - A brief description of the shortcomings in the PRC's blank instrument legislation, and the purpose, significance and method of this research.Chapter One - A description of blank instruments. This chapter first explains the concept and introduces the most popular types of blank instruments. It then continues with a comparative analysis of the legislative rules of two major judicial systems vis-a-vis blank instruments, and concludes that both judicial systems recognize blank instruments legal efficacy.Chapter Two - The formation of blank instruments. Academics views differ on the formative factors of blank instruments. The author agrees with the four-factor argument, and describes each in part one of this chapter. In the second and third parts of this chapter the author analyses the nature of authorization behavior and legal questions pertaining to delivery in these formative elements.Chapter Three - Blank instrument complementary rights and exercise. Complimentary rights are the vitality of blank instruments. This chapter first defines the legal nature of complementary rights. It then continues to discuss legal questions pertaining to blank instruments, for instance the obtaining of complementary rights, and the exercise of complementary rights.Chapter Four - Blank instruments legal effect. On the basis of the special nature of blank instruments, this chapter examines in detail the differing legal effect of complementary rights before and after they are obtained.Chapter Five - An appraisal of the PRC's blank instrument laws and regulations up to the present day. This chapter provides a summary of the purpose and significance of the author's research. By reason of the virtual "blank" that exists in the system of blank instruments within the system of PRC instrument laws, this chapter offers some legislative suggestions on the basis of the appraisal of the PRC's blank instrument rules. On the one hand should gradually develop rules pertaining to blank instruments,and under circumstances where revision remains somewhat difficult consider further interpretation of the Article 86 of the Blank Instruments Law by way of Supreme People's Court interpretation, and on the other hand should gradually expand the blank instrument system from the field of billing law to the field of instruments law. In regard to the legislative style the author deems it acceptable to refer to the legislative style adopted in the Geneva Bill of Exchange and Promissory Note law.