Bill of Exchange Law

2. Securities Classification

a) Survey of Securities and Their Legal Regulation

b) Classification of the Securities According to the Form

c) Classification of the Securities According to their Transferability
(Sec. 3 of the Securities Act)

Securities (commercial papers) can be issued as

• securities upon name (au nom)

• securities on order

• securities on bearer (au porteur)

Hereinafter we refer to individual kinds of securities in certificated form. Symbol (X) is attached to securities declared as issued upon name but stipulated by the provision on securities issued on order (Sec. 3 of the Securities Act)