On China's Law Of Negotiable Instruments On The Benefits To Repay The Claim

With the development of Chinese market economy and the accelerating economic globalization, the negotiable instrument has been, and will be playing a more and more important role in the economic activities, especially in the international market. Therefore the understanding of those relevant laws of negotiable instrument, is the key question for the obligee and obligor to exercise the rights and fulfill the obligations properly.The Claim for Reinstitution Interest is one of the non-negotiable instrument rights, which is provided by the Continental Law System, such as the German, Japan, whereas isn't provided by the Anglo-American Law System, such as England, America. Our negotiable instrument law has some similar clause (the 18th Clause) like the claim for reinstitution interest, which, though, causes many academic arguments. In order to improve the relevant law clause, and make those parties concerned exercise the rights properly, we attempt to offer some revising suggestions clarifying the clauses on the basis of the claim's conception, requisite, legal principle, and its nature, and offer some advices on how to exercise the claim for reinstitution interest.In the first part, we talk of the conception, requisite, and the legal principle of the claim for reinstitution interest, and it may be accepted in microscopic view and macroscopic view. From the microscopic view, the legal principle, or the so-called direct reason, may be seen from the laws of countries and areas: short time limitation and strict exercise and preservation of rights. From the macroscopic view, the legal principle, or the basic reason may be reasoned by the nature of the claim of reinstitution interest: illegal profit should be treated by the equity viewpoint.In the second part, we list and analyze the relevant time limitation clauses and exercise of rights from major nations such as German, England, America, and to illustrate the legislative cause from the microscopic view.In the third part, we quote many academic arguments, and introduce the origin, change and development, requisite of the illegal profit system, and point out that the nature of the claim for reinstitution interest is the treatment of illegal profit, and therefore illustrates that its...