Research On Legal Problems Of Bill Discounting

Bill discounting is the most important way of bill financing and has the double advantage of simpleness of right securities and security of bank credit; it outshines others in financial field. But limited to the shorting of research in the current Negotiable Instruments Law and practice of our country, there are fuzzy understanding to a lot of questions, that is unfavorable to the flourishing development of the bill discounting business. The thesis proceeds with the legal nature of bill discounting mainly and puts forward the suggestions on developing our bill discounting market. The thesis is divided into five chapters altogether. After clarifying the basic legal nature of bill discounting in chapter one, it analyses the unique system value of bill discounting and researches on the right of the discounting bank around the basic legal relation of bill business, and attempts to analyze all kinds of legal questions about bill discounting in practice basing on the lawsuits of bill discounting. The last chapter points out the existing problems and the development direction basing on the present situation of the bill market in our country. Chapter one is about the legal nature of bill discounting. This part is divided into two parts to expatiate the legal nature of bill discounting. Section one introduces various kinds of theories about nature of bill discounting, including theory of business, theory of consumptive credit, theory of mix contract, theory of nameless contract and theory of performance of property right act, etc. Among them, theory of business is the popular one. The author analyses the advantage and the defection of each theory and concludes that bill of exchange as the security can be regarded as the property of the legal bearer and becomes the target of the trade independently, then the legal nature of bill discounting should be bill business. Chapter two is about the system value of bill discounting. The part clarifies the unique value in financing function of bill discounting by the method of compare. Section one compares bill discounting with bank loan and concludes five differences which are the rights and obligations of financing party, the security of the realization of bank right, fund scale and term, the agility of financing fund, the manner of acquiring interest. Section two compares bill discounting with note pledge and concludes two aspects of difference that are the obligation of endorsement and the way of realizing right of oblige. Section three makes the conclusion basing the former two sections that bill discounting has the unique value that is cheap financing cost, financing maximum, simple procedure realizing right of the discounting bank and the ensured discounting bank right, etc. Chapter three is about the right of discounting bank in bill discounting. The part starts from the constitution of the law relation subject, and analyses the constitution of the discounting bank right in bill discounting. Section one clarifies bill discounting is the special transfer of bill right though bill discounting is the business act making the bill as the subject. Comparing with other negotiable instrument act, bill discounting has the features that the subject of bill discounting is special, acceptance is the premise of bill discounting, etc. Section two analyses the right of the discounting bank as the bearer, for example, claims to instruments, recourse, the right of transfer the...