On Defense Right Of Negotiable Instrument

With the rapid socio-economic developing the bills has become an important trading tool in economic activity in China, its vitality is derived from circulation, circulation to promote its all the features to get the better play, but the current bills theoretical fails to deal with bills defense practice development effectively. Firstly, there is a lack of social credit-based system, the most important is lack of design insufficient. Bills as the first generation and the most typical securities, makes it to be used in modern economic life more widely, even replaced the function of some currencies. In the Negotiable Instruments Law system, there are two interrelated system of checks and balances right:Bill creditor’s rights, which includes payment claims and recourse; rights of the debtor notes that bills defense. Negotiable Instruments on the promotion of the legislative purpose of the two bills in circulation and ensure the security and determine its focus on protecting the interests of creditors, however, absolute security does not exist, any security system is built to prevent an unsafe system in each Measures above, any civil law inherent in balance, always need to sustain and maintain the rights and obligations through confrontational. Therefore, the Negotiable Instruments Law to give the debtor bills defenses, allowing it to refuse to fulfill its obligations under certain conditions, it is not only the need to protect the debtor, but also to promote more careful notes between them, in order to avoid the occurrence of the bills defense. As a result, to achieve the purpose of promote the circulation of bills and ensure the security of transactions, which is the legislative aim at Negotiable Instruments.In the history of bill theory researching, many scholars have little study in bills defense system, but discussed with payment system and recourse claims system of it in detail, caused a theoretical study into an unbalanced state of the Negotiable Instruments situation. To finally achieve inner balance between creditors and debtors bills,for bills provides a rich theoretical basis to run, only in the theoretical study of the process of notes, bills of rights of creditors and debtors alike to achieve equal treatment. Therefore, starting from the basic theory of the bill right of defense, while analyzing the situation of the right of defense at home and abroad, based on the content of law provisions, such as bills, notes defense of the status and problems, in order for the operation and improvement of Negotiable Instruments usefully, herein bellowing give my humble opinions for this important bill system.