No. Of Bills

The abstraction of bill means although the bill is established on the basis of certain basic relation; once the bill possesses the terms of bill law, the right of it will exist independently, behavior depending on how it takes place could be ignored, the bill holder can ask to pay certain amount of money according to the context contained in it alone. The abstraction of bill isn't available for the person who acquires it by improper means as fraud, ill-intention or gross negligence. Between the part of basic relation, the abstraction of bill has congenital acts; its appliance is the result of various kinds of interests and value weigh in market economy. The bill defense is the right corresponding with the right of bill, there are two kinds of bill defense which respectively against people and object. Various countries generally try their best to dwindle the range of defense to object in ill-legislation, in order to ensure the safety of bill circulation; putting much restraint on defense to people. In defense to people, there are defense to the reason, defects fact and the right of bill. The bill defense is a kind of defect remedy to abstraction of bill, more defenses, more benefit to the debtor. The cutting off and restraining systems of it are the main security mechanisms of abstractedly more restraint to defense, stronger appliance of the abstraction. According to the general rule of continental law, bill defense mainly restrain the drawer and the remote holder of the present; defense of ill-intention and no consideration are exceptional.The abstraction principle is the soul of bill circulation, and the development trend of the bill system. Of our country's bill legislation, the main problems exist on Article 10,21 and 74 in the bill Law, they put too much emphasis on the basic relations, and the signing, acquiring and issuing of bill must possess true trade relations and debtor-creditor relationship, and must pay the corresponding one to the price. Violating the clause doesn't mean an invalid bill. But in the eye of legislative opinion, this must be interpreted as a mandatory clause. This caused the articles do not tune each other in the bill law, the debtor gains more rights in defense, while the defect of less restraint to the defense arises, for instance, according to Article 10 of the Bill Law, Except the bill holder with no payment...