Lecture 4 Negotiable Instruments (3).ppt

1、Lecture Note 4,Chapter 2 Negotiable Instruments（3/3）,2,Structure,General Introduction Bill of Exchange Promissory Note Check Certificate of Deposit Summary,3,2.3 Promissory Notes,Definition Types Specimen Items Difference between a bill and a note,4,2.3.1 Definition （1/3),A Promissory note is “an un

2、conditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money to, or to the order of, a specified person or to bearer ” (BEA1882, Art. 83),5,Definition (2/3),本票是出票人簽發(fā)的，承諾自己在見票時無條件支付確定金額給收

3、款人或者持票人的票據(jù)。（中國票據(jù)法第73條） 日內瓦統(tǒng)一法未對本票做定義。,6,Definition （3/3),A two-party negotiable instrument that is an unconditional written promise by one party to pay money to another party. Basic players: Maker 2. Time 中國票據(jù)法所指本票是指 銀行本票； 即期本票 日內瓦統(tǒng)一法：本票可以為即期和遠期，出票人未限定為銀行，這與BEA（1882）同。 3. Joint Note An unconditional

4、 promise to pay; A sum certain in money; Name of payee; Date of issue; Makers signature (may be more than one). 本票上未記載上述規(guī)定事項之一的，本票無效。 （中國票據(jù)法第75條）,15,Items （2/2）,Relatively Required Items Place of Issue Place of Payment Due Date: No longer than 2 months after date of issue (中國票據(jù)法第76、78條）,16,2.3.4 Pro

5、missory Vs. Bill of Exchange: Difference (see P74),Nature: (unconditional) Promise Vs. Order Number of Basic Players: Two Vs. Three Acceptance: No (visa) Vs. Yes Primary Debtor: Always Maker Vs. Drawer (pre-acceptance) or Acceptor (post-acceptance) Protest: Not Required Vs. Required Copies: One Vs.

6、One Set (two or more) Protest: Never needed vs. Foreign bills need More than one obligors: liable jointly or jointly and severally according to the terms of note Vs. always jointly liable,17,2.4 Checks,Definition Specimen Items Difference from Draft Types Payment and Dishonor,18,2.4.1 Definition （1/

7、2）,A check is “a bill of exchange drawn on a banker payable on demand.” (BEA, 1957 supplementary version) (see P76) “以銀行為付款人的見票即付匯票。”,19,Definition （2/2）,“支票是出票人簽發(fā)的，委托辦理支票存款業(yè)務的銀行或者其他金融機構在見票時無條件支付確定的金額給收款人或持票人的票據(jù)” （中國票據(jù)法第81條） 支票的付款人：出票人存款銀行 支票的付款期限：即期,20,2.4.2 Specimen (1/3),21,Specimen (2/3),Bank of

8、 London Pay Buyer Ltd or bearer the sum of 10,000 dollars exactly Signed ABC Limited,22,Specimen (3/3),London, 12th Sep., 2008 Check for US$ 1,360.00 Pay to the order of China National Textile Corp. The sum of US Dollars one thousand three hundred and sixty only. To: National Westminster Bank Ltd. L

9、ondon For London Export Co. London Signature,23,2.4.3 Items （1/5）,Absolutely Required Items（中國票據(jù)法第84條） The word “check” Unconditional entrust to pay Sum certain in money （可以補記） Name of payer/drawee Date of issue Drawers signature 支票上未記載上述事項之一的，支票無效。,24,Items （2/5）,Relatively Required Items （中國票據(jù)法第85

10、、86、87、90、91條） Place of issue Place of payment Name of payee (可以補記，補記前為空白支票，不得轉讓；可以是出票人自己) Kite check prohibited (禁止簽發(fā)空頭支票) Time for payment: on demand,25,Items （3/5）,Time for presentation: 日內瓦統(tǒng)一法： 1、出票地和付款地在同一國家，出票日起8日內提示； 2、出票地和付款地不在同一國家但在同一洲，出票日起20日內提示； 3、出票地和付款地不在同一國家也不在同一洲，出票日起70日內提示。,26,Items

11、（4/5）,中國票據(jù)法: 同城市，出票日起10日內;異地，“人行”另有規(guī)定。 英國票據(jù)法： 合理時間內提示，英國銀行公會為6個月。 否則，受票銀行在持票人延遲提示期間宣告倒閉而使出票人蒙受損失，出票人對持票人所承擔的支票金額中相對于損失的部分即告解除。（英國票據(jù)法74節(jié)與美國UCC3502條）；大陸法對此沒有規(guī)定）,27,Items （5/5）,釋例： 出票人在某銀行有存款余額1000元，另有未付支票400元； 若持票人及早提示，出票人存款實為600元；若此期間該銀行倒閉，經破產清理后，對債務作破產清償，比例為50，出票人受償300元，損失300元； 若持票人延遲提示，則出票人破產債權為100

12、0元，受償500元，損失500元，多損失的200元是由持票人延遲提示所致； 此時，出票人對持票人的400元的支票，只付200元即告解除責任，即多損失的200元由持票人承擔。,28,2.4.4 Difference: Check Vs. Draft (See P79),Drawer Drawee/Payer Function Principal Obligor Certification or Acceptance Revocable or not Payment time,29,2.4.5 Types (see P76-79),支票的付款方式（中國）： 現(xiàn)金支票：印有“現(xiàn)金”字樣，只能支取現(xiàn)金

13、 轉帳支票：印有“轉帳”字樣，只能用于轉帳 普通支票：兩者皆可；左上角劃兩條平行線的，為劃線支票，只能用于轉帳 國際慣例： Crossed Check只能通過銀行入帳:whether a collecting bank is specified：general Vs. special; Uncrossed Check：持票人可支取現(xiàn)金,30,2.4.6 Payment /Dishonor/ Countermand (1/2),Payment is immediate. Bank withdraws money from drawers account to make payment to pa

14、yee. Dishonored by Bank if there are insufficient funds. Payee has no recourse right against the Bank. Recovery is only against the Drawer or Endorser (if it is an order check).,31,Payment /Dishonor/ Countermand (2/2),Countermand may occur under the following circumstances: Drawers Order for Transac

15、tion Reasons: “Orders Not to Pay” 大陸法：支票有效期滿后才可止付 Payers Receipt of Notice of Death or Bankruptcy of the Drawer 大陸法：出票人死亡不影響其生前所簽發(fā)的支票. Kite Check：Drawers Deposit is not sufficient: “Refer to Drawer” （為何拒付請問出票人）,32,2.5 Certificates of Deposit (CD)(1/3),A two-party negotiable instrument that is a spec

16、ial form of note created when a depositor deposits money at a financial institution in exchange for the institutions promise to pay back the amount of the deposit plus an agreed-upon rate of interest upon the expiration of a set time period agreed upon by the parties.,33,Certificates of Deposit （2/3

17、),Certificate of deposit an instrument containing: An acknowledgment by a bank that it has received a deposit of money; and A promise by the bank to repay the sum of money.,34,Certificates of Deposit (3/3),35,Brief Summary (1/2),Definitions: Negotiable Instrument Bill of Exchange Promissory Note Check Holder in Due Course/holder for value Endorsement Acceptance Dishonor Recourse,36,Brief Summary(2/2),Facts: Main Characteristics of Negotiable Instruments; Absolutely required items in a draft, a note and a check; Requisites conditions for rec