The Continuity Of The Endorsement

After twenty years development, the market of commercial paper law has made strong progress from null to non-null in China. The corporations of China began to use commercial paper more and more regularly. One important character of commercial paper is the negotiability. And the transfer mode of the act on commercial paper includes endorsement and single delivery. Endorsement is the important means to transfer the right of commercial paper and to circulate the commercial paper, but the continuity of the endorsement is the important factor to influence the right of commercial paper of the new bearer. This paper tried to discuss the aspects of the problems related to the continuity of endorsement.The continuity of the endorsement is that both endorser and endorsee should autograph and stamp on the commercial paper uninterruptedly in the process of the endorsement. And it has the characteristics of solemnity, literality, unconditionality and etc. Because the act of endorsement is a kind of accessory act on commercial paper, it has the characteristics of subsidiariness, purpose, certainness of the behavioral agent, the coexistence of liberty and limit, divisibility and other special law characteristics. Because the continuity of the endorsement is the incessant continuity from receiver of the commercial paper to the holder of commercial paper, the sequence of endorsement should be judged firstly in order to confirm the continuity. In Japan the sequence of the sites in the endorsement place is the standard to judge the continuity. If there are endorsement outside the endorsement place, the name & date of the endorsement is the standard to judge the continuity of the endorsement. The endorsement of commercial paper is irreplaceable in the process of negotiation of commercial paper and it has played a great role in the process of negotiation of commercial paper.In China the endorsement of commercial paper which acted as the important act on commercial paper has played a great role in the commercial economy. How to judge the continuity of the endorsement is an important...