Research On Exercising The Recourse Of Electronic Commercial Negotiable Instruments

Traditional paper bills originate from the payment and settlement of commodity trading activities.In addition to the credit of both sides of the transaction,the endorsement of banks and other high credit subjects makes the bill function more perfect.The birth of traditional paper bills has greatly promoted the development of commodity economy and trade represented by bulk goods.Because of its high efficiency and safety,traditional bill has become the main settlement tool.The Law of the People’s Republic of China on Negotiable Instruments designs various systems around the payment function of negotiable instruments to realize the circulation of negotiable instruments and protect the rights holders of all parties.However,the birth of electronic commercial paper not only improves the payment function of the original paper bill,but also negates the financing function.With the increasing volume and amount of electronic commercial paper,it even no longer exists as a payment tool,but a financing tool.In the face of ever-changing science and technology and increasingly complex transaction structure,the lag of traditional legislation has begun to appear,and the contradiction between some legal systems and practical applications has become increasingly prominent.The author takes the case of dispute of right of recourse caused by the payment of Baoshang Bank’s electronic commercial bill with 20% discount as an example to analyze the actual application status of electronic commercial bill in various systems of traditional bill law in practice.As second in line to the bill rights,the holder can recover the amount of the bill,interest and related expenses from the prior party obligated to pay in accordance with legal procedures only when the right of payment of the first order of the bill cannot be realized and certain preservation procedures are performed.The system of bill recourse not only increases the security of bill circulation,but also provides a relief path for the holder.The establishment of the bill of recourse system includes the exercise of the subject,elements,objects,responsibility and so on.However,the 20% discount payment behavior of Baoshang Bank series cases and note status remarks in the system of Shanghai Bills Exchange are all very characteristic of electronic bills.Therefore,how to identify the above two behaviors is the key to whether the holder can exercise the right of recourse in view of the new situation that is not stipulated by legislation.The author focuses on this series of cases to discuss the contradictions and conflicts in the application of electronic commercial bills of exchange in the bill of recourse system.According to the judgment results,it classifies the judgment documents of various courts and summarizes the reasoning basis of different opinions.At the same time,the author learns the mature experience of foreign legislation on partial acceptance and electronic bills,discusses the disadvantages of bill legislation in China and puts forward appropriate legal suggestions.Besides the introduction and conclusion,the paper contains four chapters:The first chapter is the theoretical basis and practice of e-commerce bill.This paper mainly clarifies the concept of electronic bill of exchange and its difference with traditional paper bill of exchange,discusses the challenge of electronic bill of exchange to traditional bill of exchange law system.In the second chapter,through empirical research,data induction and trend analysis are carried out on disputes over partial payment right of electronic commercial bills.Taking Baoshang Bank series of disputes as examples,this paper summarizes the issues related to the right of recourse of electronic commercial bills.This part mainly explains the particularity and research significance of the electronic commercial bill dispute,and expounds the background of the series of cases.The third chapter is a detailed summary of the different judgments of courts and the status of specific bills.It mainly includes the legal issues involved in the dispute of electronic commercial bills and the legislative and judicial issues reflected behind,and explains the premise of the exercise of the right of recourse due in China.Combined with the case plot of the dispute of electronic commercial bills of exchange,compared with the judgment of the court.The fourth chapter analyzes the legal effect caused by the Notice on The Protection of Contractor bank acceptance Bill issued by the General Office of the People’s Bank of China,and puts forward the third remedy path which is different from the current judgment in China.In view of the above problems,the author suggests the following: abolishing the full acceptance system and introducing the partial acceptance system;Through legislation to confirm the legal status of electronic bills,add electronic types in the traditional proof of refusal;face up to the validity of the Master Agreement on Bill Transaction.It is expected to help remove the obstacles in the development of electronic commercial bills.