China Bill Is Accepted A Number Of Legal Issues

Draft acceptance is an attached action in Negotiable Instruments Law and plays an important role in draft systems. It relates to the bearer's right to determine the payment request. But the relevant provisions of Negotiable Instruments Law of our country are not perfect, not clear enough and have some obvious practical problems. Some of the provisions go against international law. Although Negotiable Instruments Law is domestic law, with the development of economic globalization and the strengthening of economic exchanges, it is necessary for our country to learn the relevant provisions from other countries. Behavior of people is to with internationally accepted rules and is conducive to better participate in international economic exchanges. Thesis is divided into six parts:Part I is overview about draft acceptance system. Acceptance is a unique instrument behavior and has certain specificity. Its main features include Subsidiary, independence, format and unilateral nature. Acceptance is into the formal acceptance and slightly-style acceptance, the simple acceptance and acceptance of non-simple, full acceptance and acceptance from academic. But our country in accordance with the provisions of Negotiable Instruments Law, Only recognize the formal acceptance, the simple acceptance and full acceptance. The classification must have limitations and should not play instruments very well the role and protect the interests of the right owner, so it is necessary to accept the type of expansion. Bill of exchange system to establish the significance of acceptance system is to determine the bearer's right to payment requests, and ultimately realizes the right on notes.Part II is about the principle of acceptance of our country. After analysis of three principles of draft acceptance, this part analyses each principle .We think that free-acceptance principle has limitation, including the free of acceptance of acceptor and the free of prompt acceptance of holder. Pure-acceptance principle and acceptance principle are provided strictly, against to the intention of Negotiable Instruments Law. Because the provisions of our law are too absolute, many cases are without considering the interests of the parties to refuse acceptance. It will make the process of circulation complicate and be detrimental to the flow and use of instruments. We should close to the general of international law.PartⅢis about procedure of draft acceptance of our country. After discussing legal procedure of draft acceptance of our country, this part carries out analytical investigation of many problems of procedures in practice, point out the conflict to Negotiable Instruments Law, and submit some suggestion about improvement.Part IV is about the recorded matters of draft acceptance of our country. Firstly, this part has discussed legal recorded items, by the comparison with abroad, analyses our country legislation has deficiency about recorded items. And then discusses legal recorded ways, and analyses other ways in reality, for example copy acceptance and electric-acceptance letter of credit.Part V is about the effect of draft acceptance. Firstly this part has discussed the general effect of acceptance for the payer, the bearer as well as the drawer and the backer part. And then sum up the special case and discuss its effect.Part VI is about the perfection of draft acceptance. This part brings forward some suggestions to perfect draft acceptance. We should stipulate free-acceptance principle, abandon completely- acceptance principle and cancel restricting to pure- acceptance principle. The procedure of draft acceptance ought to normalize according to legal rules; our law should increase acceding acceptance and revocation of acceptance.