On Additional Right Of Bill Blank Space

Blank bill is a bill with some items blank signed by the drawer, that may be recorded afterwards with the authorization of the drawer. Exercising blank additional right make the blank bill to complete valid bill. The blank additional right decides the lawful effect of blank bill. The blank additional right is the vitality of blank bill and the the nucleus question of blank bill theory.Theory foundation of blank additional rightThe blank additional right is a right than the drawer authorises receiver to supplement the blank. The blank additional right directly decides the lawful effect of blank bill. There are four theories about the foundation of blank additional right. First,"Appoints theory"; second,"Agency theory"; third,"Authority theory"; the forth,"Contract theory". Regarding these four theories, theory foundation that the blank additional right was founded should adopt"Authority Theory". Because of the drawer's authorization, blank bill signing person obtains the the blank additional right.The nature and standard of blank additional rightIn the blank bill theory, it is believed that the nature of blank additional right is a formation right. There are three theories about the standard of blank additional right. They are"Subjective theory","Objective theory"and"Compromise theory". In author's opinion, the believing standard of blank additional right should take"Objective Theory". Because it can maintain the circulation of bills. Also, it can protect good intentions holder's benefits.The rule and allotted time of blank additional rightExercising blank additional right should follow such rules: first, regarding to the name of the payee, the rule is the act of a drawer to sign and deliver the bill to the payee; second , regarding to the amount of money , the rule is independent agreement between drawer and payee; third, regarding to date of bill, the rule is the date of delivering the bill; forth, regarding to the rule of additional behavior, it suits the rule of signing.The allotted time of blank additional right suits the stipulation of eliminates reprimands period. First, if there was agreement between litigants , the allotted time of blank additional right is the agreement; second, if there was time of the maturity, the allotted time of blank additional right is the time of presentation for payment; third , if there was not time of the maturity, the allotted time of blank additional right is unlimited.The lawful effect of blank additional rightBefore the blank additional right exercised, the right on the blank bill shall be limited, the drawer of the blank bill will not undertake the obligations. After the blank additional right exercised, the holder can exercise the bill rights.The protection to bill holder' s right is very important when the blank additional right being abused: first, the drawer can not protest against good intentions holder; second, the drawer can protest against the holder with malicious motives or major errors; third, the drawer can protest against blank bill signing person who abused the blank additional right.ConclusionThere are only articles about blank cheque: Article 85 The amount on a check may be filled in afterwards by the holder with the authorization of the drawer. The check with the amount not filled in shall not be used. Article 86 If a check does not bear the name of the payee, it may be recorded afterwards with the authorization of the drawer. Due to the fact that People Republic of China's (PRC)Billing Law blank cheque rules are overtly simplistic and lack precision, it is very necessary for us to study the blank additional right.