Discussion Of Demurrer In Negotiable Instruments

As a kind of instrument of credit or payment, negotiable instruments are basically featured by the frequent negotiation and then circulation among several parties. Therefore, it is the priority of Negotiable Instruments Law to ensure the circulation of negotiable instruments. Meanwhile, the importance of safety of negotiable instruments can not be overlooked. As a result, the circulation and safety become the core legal value pursued by the whole Negotiable Instruments Law while demurrer of negotiable instruments is the essential system to realize the value. This paper discusses the key problems concerning the status quo of legislation, value of legislation as well as basic system of demurrer of negotiable instruments . The author's advice on the legislation is also given in the paper. The paper includes four parts.The first part introduces the status quo of demurrer of negotiable instruments. The concept of demurrer of negotiable instruments and the right of demurrer of negotiable instruments are made clear in the first place: The demurrer of negotiable instruments refers to the act that the bill debtor's refusal to fulfill negotiable instruments'obligation as a certain or general holder with legal reason proposed in accordance with the Law. The right of demurrer of negotiable instruments refers to the legal right of the bill debtor stipulated by the Law to refuse to fulfill the legal obligation as a certain or general holder with legal reason proposed. This paper contrasts the Negotiable Instruments Law system in Mainland China (or Geneva General Negotiable Instruments Law system) with the correspondent ones in Britain and America. This part finally introduces the status quo of the legislation of China's demurrer of negotiable instruments: China's Negotiable Instruments...