Study Of The Remedial System Of The Forfeiture Of The Negotiable Instruments

The forfeiture of the negotiable instruments is an abnormal situation of the circulation of the negotiable instruments, which means the obligee lose the possession of the statutory negotiable instruments not because of his own will. The negotiable instruments is a kind of the power securities, and the prompt securities as well, the forfeiture of the negotiable instruments means forfeit the right of exercising the power of the securities. The countries of the civil law system announce the invalid of the forfeiting negotiable instruments by public summons for exhortation, while the countries of the common law system recover the rights of the negotiable instruments by litigation. The purpose of the remedial system of the forfeiture of the negotiable instruments is to protect the rights of the obligee. In order to achieve this objective, the negotiable instruments law provides who can be the obligee just resolve the problem of the proper applicant of the public summons for exhortation and the common litigation.The negotiable instruments law is a special kind of the technology of the rules, and there are obvious differences between the negotiable instruments law and the common civil law. There follows series problems of the entity and the procedure after the forfeiture of the negotiable instruments. And in our country, rules about those problems are abstract. There are many controversies and vague provides in the fields of the remedy of the forfeiture. It goes against to the circulation of the negotiable instruments that there's no clear-cut provisions on the no-origin-character of the negotiable instruments which has been widely accepted by the world.In our country, the forfeiture system adopts payment suspension at loss notification, public summons, and litigation as three remedial types, which is all-around but imperfect. By introducing the remedial system of the forfeiture in our country, this text will point out current problems existing in the rights system of the instruments. Through the analysis and exposition, and learning from the advantage systems of the other countries, the text will provides the solutions of those problems.