Research Of Legal Problems On Bill Discounting

With the development of negotiable instruments market, credit function and financing function are emphasized more and more besides the traditional function, such as settlement function, exchange function and payment function. Now bill discounting is the most important way of financing.The topic of this thesis is creative to certain extent. At least referring to relative latest research information on bill discounting commanded by the author, the discussion towards bank's bill discounting is from the view of financial studies, but seldom has article that probes from the point of law. By applying economic analysis method and benefit equilibrium, etc., it works over problems of bill discounting from jurisprudence and system aspects. After clarifying the legal nature through an analysis on the procedure of bill discounting operation , this thesis warns against the risk existing in banks with the new business activities at bill discounting. This thesis mainly proceeds with the legal nature of bill discounting and puts forward the suggestions on developing our bill discounting market.Except the preface, The thesis is divided into four chapters altogether. Chapter one is about the legal nature of bill discounting. First, the author introduces various kinds of theories about the nature of bill discounting, concentrating on the theory of business and the theory of consumptive credit. There is contradiction in our rules and regulations of law about the legal nature of bill discounting.Chapter two discusses the legal rights and obligations of banks in bill discounting. Rights enjoyed and obligation undertaken are very important aspect in bill discounting legal relation. The thesis analyses the right of the discounting bank as the bearer, for example, claims to instruments, resource, the rights of transferring the discount note, for example, rediscount, etc. The bank has duty to examine the autherticity to the bill discounted in the bank and the commodity factual document.Chapter three is about the legal problems in bill discounting. Facing the fierce market competition, banks constantly develop new business, such as bill discount businesses with intrerst covered by buyer or by two sides. Some of these new businesses beyond the rules, so this chapter analyses these new businesses in terms of law.Chapter four is about the modification of negotiable instruments law. The author puts forward to some proposals for the Chinese legislator. Real bill doctrine blocks the development of negotiable instrument market. Real bill doctrine has its historical background, but it must be discarded. At last, our negotiable instrument law may permit the existence of commercial paper and the financing paper and the electric bill.