Research On Endorsement System Of China From The Perspective Of Negotiability

The negotiable instrument law of people's republic of china (referred as Negotiable Instrument Law afterwards) has played an essential role in the construction of Chinese commercial paper market since it's issued in 1996, however, criticism has been existed and accompanied with it from the beginning. Besides, economic environment in our country and legal consciousness of the market participators have changed greatly with the dozens of enormous development of market economy, so in order to meet market demands, amendment and improvement on Negotiable Instrument Law has become an inevitable choice. Negotiability, one of the fundamental natures of commercial paper, has close contact with endorsement. That is the reason why this paper research on endorsement system from the perspective of negotiability.This thesis contains four chapters besides Introduction and Conclusion.Chapter One is about the economic introductions of negotiability. Section I is the definition of negotiability in economics, revealing the nature of negotiability is service for economic development through analysis of commodity circulation and currency circulation; Section II is about the establishment and development of negotiability.Chapter Two is about the legal introduction of negotiability. Section I is a summary of the first chapter; Sectionâ…¡is a summary about the current definition of negotiability in legal view, which is that right is transferred by the delivery of notes (endorsement is needed sometimes), under certain conditions, the transferee obtains full rights without defects of the grantor.Chapter Three is about the relations between endorsement system and negotiability. Sectionâ… analyzes that endorsement can promote the circulation of commercial paper in five aspects; Sectionâ…¡analyzes that endorsement also has some limits to the circulation of commercial paper.Chapter Four is about the defects and improvements of our endorsement system. Sectionâ… is the introduction of the choice in legislation of negotiability and safety; Sectionâ…¡is the introduction of systems that our endorsement lacks, including black endorsement system, cancellation system of endorsement, and so on.