Discussion On The Paper Without A Cause, Principle

Instruments, as typical securities, have several important economic functions in modem market economy, which can't take effect without their negotiation. In fact, negotiation is the nature of instmments and the root of all the instrumental systems. The abstract of instruments is one of the most important systems that promote negotiation. That is not exaggerated that the abstract of instruments is the objective basis of the establishment of instrumental systems, the indispensable safeguard for carrying out instrumental systems and the life of instrument law.In modern laws of bill, the no reason principle of the bill is practically accepted by the many countries, but from theories to practice, people have the very different understanding about this rule. Currently there are many different points about this rule, especially which is absolute or opposite in our country theoretical fields. In the current bill's law, the attitude to the rule is always indistinct. Along with our country's joining the WTO, the economic developing fast, the international association turning deep, it is very necessary to be in line with the word in the law of bill. Therefore, it is very important and realistic to re- know the no reason principle of bill.Hence, the writer provides a comprehensive introduction and analysis on respect of the abstract nature of the negotiable instruments in this dissertation, and then gives some suggestions about the future legislation.