On Bona Fide Acquisition Of Rights Associated With The Negotiable Instruments

Rights of negotiable instrument acquired in good faith,which is a very important instrument in Negotiable Instruments Law.Liquidity is the fundamental reason for the negotiable instrument, and also offer lasting strong vitality . Rights of negotiable instrument acquired in good faith is a special design of the system to protect the flow of negotiable instrument,and to achieve a fair value in law for the economic value.This text is divided into four chapters total.The first chapter outlines the main contents of rights of negotiable instrument acquired in good faith.First, the rights of negotiable instrument acquired in good faith derive from the system of movable property acquired in good faith of the civil law.Rights of negotiable instrument acquired in good faith,which is the original offer made in Negotiable Instruments Law,refers to the Law of the goodwill accounting methods without gross negligence for the acquisition of instruments that were never made dispose of rights of negotiable instrument system.It originated in made movable goodwill in civil law,goodwill is made to the Law of the system development.Acquired in good faith of a major system, initially made for a special form of movable property ownership.In ancient societies,and lower productivity, it's necessary for survival in their own apart from the material information , no superfluous information and conduct transactions.So then is the focus of the law is to protect people and property belonging to their share of the legal effect . After long-term development of the productive forces have been greatly improved,it surplus property in a particular area of frequent exchange.Gradually it developed into a market,and also to promote the local economic development.To meet the expanding needs of the market and staple goods trading,so a commercial credit obliteration and paying in advance further in the long-term business practice,be transported to a transfer of debt instruments in draft , banker's check and checks makes commercial development.At this time the focus of legal action from the static condition to the security of the property's transfer.Apply object of acquirement in good faith in the civil law of is the property which has already been occupy definitely.The object have to definitely occupy external appearance.Along with the expanding of the scope of trade and circulating of money,rights of negotiable instrument realized the change from the original appearance of personal subjective to the objective economic relations.This change make creditor's rights realize fully value of property as well as economic value.These leads to the need for legal protection and the possibility to apply the rule of acquirement in good faith.Since the system began in civil rights.There is bound to be similarities and differences between them.In common is that they have the same purpose to protect the new legislative purpose and the relationship between rights and obligations,safeguard the legitimate action of normal transactions.The differences between them are:(1) the nature are different;(2) the assignment objects are different;(3) the behavior are different;(4) the people are different.Although rights of negotiable instrument acquired in good faith system originated in movable acquired in good faith in civil law.But due to different national conditions , the system change into different legislation.There are three models roughly:Geneva Model Law Commission votes,British Law of the legitimate cases,the system in Mainland China and Taiwan about the Law of the "positive interpretation" mode,which anyone get the bill with malice or gross negligence do not enjoy rights instruments.Chapter two is the essence of rights of negotiable instrument acquired in good faith.The first issue about the affect which the nature of the acts of good faith to the negotiable acquisition.The qualitative behavior of the various countries offer different nature acquisition in good faith will affect the conditions applied.The rights of bill as a unique category of civil and commercial law, which is based on the legal acts. So the nature of the bill behavior used contract nature, alone nature or right appearance will lead to different requirements.China's current position on the issue adopt the main acts and supplemented by the right appearance.The former is for the normal circulation in the market,while the latter is applied to another normal circulation between goodwill person.Right appearance for the negotiable instrument is that the legal basis for the lack of delivery of legal effect.The second issue is the nature of rights of negotiable instrument acquired in good faith,first the rights is a claim creditpr's rights.With the economic and social development,the rights that claim attendant to the bond also dominate the bond's worth.It realize the change that from subjective personal relationship to objective economic relations,with a value of the properties and appearance completely.Gaining the right from claims contained in the negotiable instrument.Second right is a primitive gaining it means to get the bill in good faith originally made the right offer,which is based on the law,but not on the basis of the right of access.The third problem is the double structure of the rights of negotiable instrument acquired in good faith,in order to stress the rights attendant to bond.But not bond attendant in the right perspective instrument will be divided into two major steps rights of negotiable instrument acquired in good faith.First is the right to gain a bond external,secondly there is the right to gain the right writing in bond.In practice,these two are inextricably linked,this method is only a doctrinal exposition.The fourth issue is the working method of negotiable instrument acquired in good faith . Rights of negotiable instrument acquired in good faith in the legal system makes specific application of goodwill who made the original offer made in the rights offer results were cured.The stigma attached to the right, rather than the flaws.Chapter three is the constitution of the rights of negotiable instrument acquired in good faith.This part first shows constituent elements of rights of negotiable instrument acquired in good faith:(1) the bond from people who have never dispose of negotiable instrument;(2) the transfer must be made in accordance with the Negotiable Instruments Law;(3) the assignee must be good faith with no major mistakes;(4) the assignee have to prove own form qualifications in a row by endorsement;(5) there has to be independent and effective bond debt exist.Second,article shows the relationship between price and rights of negotiable instrument acquired in good faith,including the British law countries, Geneva between the different countries,as well as our mainland right price.By the way of Price comparison indicates that the China's Law on the rights acquired in good faith do not treat price as the constituent elements but as just one of the rights of defense.Chapter four is the legal effect of rights of negotiable instrument acquired in good faith.First if the goodwill people meet the five elements described in the text that would produce the rights of negotiable instrument acquired in good faith,also lead to the following effect : (1) The good intentions obtains a person originality to obtain negotiable instrument right;(2) the rights of indigenous people lose their negotiable instrument rights;(3) the right that created by the rule eliminate the right of all subordinate.(4) The people who don't have right to transfer would take the law duty.(5)Other people's duty. Followed by an explanation of relationship between the rights of indigenous people and negotiable instrument acquired in good faith people.Finally, we illustrate rights of negotiable instrument acquired in good faith system and offer a defense of negotiable instrument relationship.