On Conflict Of Commercial Paper Law And Methods Of Resolution

As a means of payment in modern society, commercial paper law has many characteristics, such as negotiability, technology and internationalism. Commercial paper law regulates legal relationships on commercial paper, it's an international law. Each country has it's own legislation background, so bill laws are different on many aspects. Finding out its method of resolution is more and more valuable. It needs much more research on it.Capacity of bill is an important constructive condition of act on commercial paper. Conflict of law may lead the act to be invalid, and affect the validity of the bill. In order to resolve this conflict, countries usually adopt four kinds of means: firstly, the principle of nationality; secondly, the principle of the place of contract; thirdly, the principle of choice; lastly, remission and transmission. Besides the principle of proximate connection, the principle of external connection matching it relaxes the restrictions to substantiality. Conflict of commercial paper law on substantial matters includes: first, interpretation on commercial paper, generally comprise essential factors and validity of act on commercial paper. On narrow sense, it includes literal interpretation only. Second, as to illegal commercial paper, there are four kinds of laws may be choose, place of contract law, applicable law, place of implementation law, and place of court law. It may be single faceted to apply to only one of them. To warrant the validity of the commercial paper, we'd better broaden the scope of application as far as possible. As to bill relationships, the principle debtor, the bill holder, the endorser and the endorsee are four important parties. For the sake of full safeguard to save the legislate rights and interests, we still need to implement the principle of broaden the selection sphere of application to the full. Hence when the bill contract will be canceled, in order to ensure that other debtors' legislation rights and interests are saved well, we still can't forget the principle we have emphasized.Geneva bill law system does not require the bill endorsement forger bear the note responsibility,this is the objective demand of note exterior doctrine. But this doesn't mean he is at large, he must bear civil responsibility even criminal responsibility. As to the endorsee, usually needn't bear bill responsibility, except that he reverses the action or the endorsement forgery is apparent representation. So we can come to the conclusion that Geneva bill law system attempts to protect interests of bill holder in due course. But he may be relaxed to lure bill risks. Anglo-American bill law system requires bill holder be careful to prevent risks on forgery. It intends to protect interests of real right holder, and warrant the safety of bill exchange. Many countries have legislated conflict laws to resolve this problem, and international entity legislation is a new attempt on it now. At present, statutes of limitations among countries are quite different, out of considering of native profit and policy, difference of period of prescription has hindered global commerce from going on wheels. Traditional theory usually regards prescription system in bill law as a matter of procedure, thus they apply to court law to resolve the conflict. But many countries such as America and England have found it to be inefficient, and they have abandoned procedure theory replacing it with substance theory at the same time. The writer stands for looking for methods of resolution through the most ultimate aim, this means taking prescription of commercial paper law as an entity problem. Venerate in the private international law territory: the entity problem should be resolved through the application of applicable law.