An Analysis On The E-Commerce's Influence To The Negotiability

The application of e-commerce affects the whole society, especially the commercial activities. Negotiable instruments as ordinary commercial payment tools are affected by e-commerce as well. This article is focus on the practice in the U.S., where the e-commerce develops on a high level. This article studies the negotiability in American negotiable instruments law, carefully analyses the development of the concept of negotiability and the change brought by the application of e-commerce in the environment where negotiable instruments are used. Taking these into account, this article then analyses the two solutions given by UNCITRAL Model Law on Electronic Commerce and Uniform Electronic Transaction Act, and get the conclusion that the application of e-commerce does not affect the fundamental structure of negotiability and negotiable instruments law. The two solutions given by UNCITRAL Model Law on Electronic Commerce and Uniform Electronic Transaction Act are enough to meet the challenge brought by e-commerce. Finally, this article pays attention to the similar situation in China and gives some suggestions on the law reforming.