The Responsibility Of The Bank For Improper Payment Bills

In the highly developed commodity economical society, note has increasingly become an indispensable means of payment because of its functions of supplement as cash and replacement of the currencies. Notes circulation must rely on specialized engaged in currency exchange and other business development of financial institutions. Without payment of financial institutions, the functions of the Notes will not be achieved. Because Chinese relevant legal system of notes is relatively backward, there will be inevitably a variety of disputes in the bank payment process, in which the improper payment is the most important manifestations.The beginning of any research must be based on clear concepts, based on the banks’ responsibility for improper payments on bills. Firstly we must be clear of what is improper bill payment. Therefore, this paper introduces the banking system, improper payments on bills related concepts, and on the basis of what conditions constitute bills improper payments.The main part of the article is about the notes from the banks to take responsibility for improper payments to start the legal basis for bank notes review obligations, and in-depth analysis of asymmetric information on bank bills payment obligations of the review, and seek out a solution ideas. Bank bill payment review obligations in contravention occurs only when the improper payment problems. There are two main situations about the bank improper payments:the first one is the active form of the wrong payment, the second is the negative form of the refusal to pay. Bank notes improper payments normally have to bear the contiactual obligations, even tort liability on special circumstances. On the base of induction of on the bank’s responsibility for improper payments of bills related provisions in different countries (regions), it analyzes the different concepts in different legal systems of legislation, and the resulting legislation to protect different focus, and our analysis of the relevant legislative purpose, combined with China’s economic development situation, put forward some suggestions.