Study On No-cause Of Instrument Of Legal System

The theory of no-cause of instrument is adapt to the need of flowing,all of legislation around the world is sure of no-cause of instrument,the principle of no-cause of instrument plays an important role in promoting the flowing of the instrument and protecting the security of transaction.The law of negotiable instrument in our country is no clear attitude to the principle of no-cause of instrument,then the judicial interpretation of the Supreme Court and the Administrative regulations of People's Bank of China are conflict of the provision of the no-cause of instrument,it lead to the confusion of the legal system of instrument and affects the circulation of bills and development.Therefore,this article attempts to discuss the content,value and the basic theory of the no-cause of instrument,hoping to help and inspire instrument law of our country.This paper is divided into four parts,the first part is an overview of the theory no-cause of instrument,introducing the meaning and value of bills.The second part is an important part of theory,introducing the act of bill without cause, the relationship of bill and the basic relationship of bill.The third part analyzes the relativity of no-cause of instrument,that is the exception of no-cause of the instrument.It points out that the no-cause of instrument is not absolute,the exceptions should be considered,to Protect the legitimative interests of debtors,it is also required by the principle of good faith.Finally this article evaluates and analyzes the instrument law of our country.It is pointed that only to establish the system of the no-cause of instrument to improve our instrument law of our country,to play its due role and promote the prosperity and development of market economy.The article puts forward some advise about our instrument legislation in the end,hoping to establish the no-cause of instrument on the purpose of legislation and provide the exception of the no-cause of instrument clearly.Expand its scope can not be arbitrarily.In addition, China's commercial banks reviewed the notes against the basic theory of no-cause of instrument.It is should be recognized that the relationship of bill and the basic relationship of bill are separated fundamentally,to make the business of financial instruments develop healthily.