Research On The Recognition Of Endorsement's Succession

In modern trade, two sides often lie in different places or nations, so it is frequent to need to exchange or transfer money. The bill becomes the best tool of trade between different places. Currency is the characteristic of bill,and the foundation of bill's currency lies in transference of bill. Currency of bill depends mainly on endorsement besides delivery. The succession of endorsement refers that the endorsee of ante-endorsement is the endorser of subsequent endorsement in the endorsements of bill from original assignee to last holder and so the endorsements are consecutive. The succession of endorsement comes down to the validity of bill's transference. Furthermore it impact on the currency of bill. So it is one of the nuclear problems of livelong bill system. However, there is not consolidated prescribe about how to recognize the succession of endorsement in our country at present. Thus it is important for endorsement use and transference to make clear how to recognize the succession of endorsement.The paper discusses general and especial problems in recognizing the succession of endorsement beginning from it's important documents. And the paper consists of three parts. The first section is the survey of recognizing the succession of endorsement; The second section is the general problems in recognizing the succession of endorsement; The third section is the especial problems in recognizing the succession of endorsement.The first section is the survey of recognizing the succession of endorsement. It expatiate the important documents in recognizing the succession of endorsement, explaining its great meaning in theory and practice. The succession of endorsement refers that the endorsee of ante- endorsement is the endorser of subsequent endorsement in the endorsements of bill from original assignee to last holder and so the endorsements are consecutive. The important documents in recognizing the succession of endorsement include the validity of every endorsement, the succession of endorsement's recordation and the identity of endorser and endorsee. It has great significance to recognize the succession of endorsement for holder, payer and owner gaining bill by successive endorsement.The second section is the general problems in recognizing the succession of endorsement. The forbidden records may interrupt series of endorsement of bill. Invalid signatures play an impact on recognizing the succession of endorsement. As to the identity of endorser and endorsee, the endorsement can be deemed to be successive if they are admittedly one man though it is different between shortened form and full name. Invalid endorsement also has influence on the succession of signatures. When name of endorsee is redirected, we should recognize the succession of endorsement according to the redirected name. The endorsement may be regarded to be successive when the print is redirected.The third section is the especial problems in recognizing the succession of endorsement. The holder may prove his rights of bill by occupancy when original bill with blank endorsement is transferred with successive endorsement. In artificial endorsement of bill , only if the artificial endorsement accorded with the regulations concerned form of endorsement,the artificial endorsement would have no influence on the succession of endorsement of bill. The obliteration made by holder has no influence on the successive endorsement of bill. When the obliteration made by endorser has influence on the successive endorsement of bill,it can be regarded that no obliteration made by endorser. Whereas,when the obliteration made by endorser has no influence on the successive endorsement of bill,it can be acknowledged that no obliteration records. In endorsement by mandate, when the indorsed person take money by agency,the succession of endorsement inspected has the same standards as the common one. Endorsement of pledge has the similar principles and standards. The derivative acquisition of bills may cause certain degree effects on the succession of endorsement.In a word, bill system is indispensable economy system and legal system. In economy the bill has many functions such as payment, currency, financing, credit and so on .It is of great negotiability. Bill system is the guarantee of bill currency's rapidity and safety. As a result it is of great importance to perfect our bill system. But our law has on uniform provision about how to recognize the succession of endorsement needing be perfected to be suit for the development of market economy and international trade.