VIEWS: 16 PAGES: 1 POSTED ON: 8/21/2010
Promissory notes pay the invoices Under the &quot;Negotiable Instruments&quot; requirement, bank draft is pay the invoices of bills, the payee or holder, after obtaining the cashier at any time can request payment to the drawer. Under &quot;Payment and Settlement,&quot; the 108th Article provides that the payment of cross-system bank draft, bank account holder in accordance with the provisions of the PBC business dealings with financial institutions, interest rates banks charge interest to a vote. In order to prevent the payee or bearer notes and tips to the long-suppressed negative drawer. &quot;Negotiable Instruments Law,&quot; the 78th article of the draft prompt payment deadline, namely: &quot;promissory note from starting from the date the payment period should not exceed two months.&quot; Holder in accordance with the foregoing time limit, promissory note, the drawer must bear the responsibility for payment (&quot;Negotiable Instruments&quot; VII 10). If the holder of more than prompt payment terms have not been paid, within limitation rights in the notes to the issuing bank note, and provide my ID card or unit that can hold a vote bank cashier to request payment. Visible from, cashier&#39;s drawer is the main instrument on the debtor, liable to pay the holder an absolute responsibility. If the holder of a promissory note promissory note is not in accordance with the prescribed time limit, then the loss of the drawer front other than the right of recourse. Here, the outside of the drawer before the hand is the endorser and guarantor. As the cashier&#39;s drawer is a note on the principal debtor, the holder has absolute payment obligations, in addition to paper bills Ershi Limitation of the right to eliminate or invalid type notes the lack of Er Shi, the not for ticket holders not within the prescribed time limit the exercise of the right to request payment responsibility will be removed. Therefore, the holder still enjoy the right to demand payment of the drawer and recourse, but the loss of the endorser and guarantor of recourse. ?
Pages to are hidden for
"Promissory notes pay the invoices"Please download to view full document