bluebackgorund
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3/5/2013 3:51 PM
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Bill of Exchange Law
Introduction
JUDr. Josef Kotásek, Ph.D.

Důvody volby tohoto tématu;

bluebackgorund
3/5/2013 3:51 PM
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History of Legal Regulation of Bill of Exchange
•Local particular sources, lex mercatoria
•Bill of Exchange Patent from 22 December 1763
•Imperial Patent No. 51/1850
•Bill of Exchange and Cheque Act No. 1/1928
•Government Regulation No. 111/1941 from 19 December 1940
•Bill of Exchange and Cheque Act No. 191/1950 "BECA“
•

charakteristiku problematiky daného vědního oboru a vlastní odborné výsledky uchazeče . Reakce na
nešvary české obchodní praxe. Netradiční situace ve Východní Evropě. Současně výzva – směnečné
teorie (kreační, smluvní, teorie ochrany domnělých práv) argumentují svá pojetí a přístupy právě na
těchto „netradičních případech“.

bluebackgorund
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3/5/2013 3:51 PM
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Geneva Bill of Exchange System (1930)
•3 Conventions
–Convention on unified bill of exchange act with the first appendix - Uniform Law on Bills of
Exchange and Promissory Notes (78 articles).
–Convention for the settlement of certain conflicts of laws in connection with bills of exchange
and promissory notes.
–Fees
•

bluebackgorund
3/5/2013 3:51 PM
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3/5/2013 3:51 PM
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Economic Importance of Commercial Papers
•
•payment instrument
•payment by a bill of exchange (bill of exchange issued "pro soluto"),
•payment by means of bill of exchange (bill of exchange issued "pro solvendo")
•security instrument
•instruments for foreign exchange transactions
–bills of exchange payable at future dates, in other places, and different currencies
•short term credit transactions (consumer credits)

Bills of exchange developed during the Middle Ages as a means of transferring funds and making
payments over long distances without physically moving bulky quantities of precious metals. In the
hands of thirteenth-century Italian merchants, bankers, and foreign exchange dealers, the bill of
exchange evolved into a powerful financial tool, accommodating short-term credit transactions as
well as facilitating foreign exchange transactions

bluebackgorund
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3/5/2013 3:51 PM
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Types of Bill of Exchange
•Bill of Exchange
•Promissory Note

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Promissory Note
•Special variant of a credit paper
•Promise of a drawer (maker) to pay to a creditor (payee) certain financial sum
•Characteristic expression „I will pay“
•Two basic participants - maker and creditor (payee).
•Maker of a promissory note is a direct debtor obliged by his sign to pay at the maturity

bluebackgorund
3/5/2013 3:51 PM
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Bill of Exchange
•higher number of participants
•drawer, payee and drawee
•payment order of a drawer to a drawee to pay certain financial sum to a payee
•characteristic expression „Pay to".
•

Dolus ne culpa lata, německé řešení…

bluebackgorund
3/5/2013 3:51 PM
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3/5/2013 3:51 PM
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Participants of the Bill of Exchange and Promissory Note
•
•Drawer (maker)
–maker of a promissory note obliges himself to pay at the maturity, direct debtor
–drawer of a bill of exchange (trasant) is in a position of indirect, regress debtor (Article 9)
•Payee
–person, in whose favour the bill is issued,
–"remitent„
–person named on the face of the bill of exchange or a promissory note to receive payment
•Drawee
–addressee of payment promise of the drawer
–a real debtor only by the acceptance (till this moment he is obliged only potentially; under
certain circumstances he even does not have to know that he became a drawee)
•
•

Dolus ne culpa lata

bluebackgorund
3/5/2013 3:51 PM
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3/5/2013 3:51 PM
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Participants of the Bill of Exchange and Promissory Note II
•
•Persons giving an aval guarantee
–Section 30-32
–special guarantee for payment of a bill ("aval„).
–guarantee my be given by a person who has signed the bill as well
–the giver of an aval is bound in the same manner as the person for whom he has become a guarantor
–
•Parties of endorsement
–Indorser
–Indorsee
•
•
•

Dolus ne culpa lata