Analysis Of Legal Relief System For Loss Of Bill

With the maturity and improvement of China’s market economy, the negotiable instruments are playing more and more important roles in the economic life; they make transaction faster and more convenient. But as with any other entities, the negotiable instruments also inevitably face the embarrassing situations of loss. Because of the absoluteness, negotiable instruments are completely securities, rights of negotiable instruments and negotiable instruments possession are inseparable, and so the loss of the negotiable instruments would cause serious damage to the rights holders. In order to protect the liquidity of the negotiable instrument and legitimate interests of the rights holders, making negotiable instrument playing a better role in the economic life, Relief system of negotiable instruments forfeiture is very important.Our country’s currently in effect relief system absorbed the advanced experience of the common law and civil law, combined with our own traditional usages, forming an integral Relief system containing stop payment, public summons and lost ticket litigation. This article proceed from the basic theory, discussing the specific provisions of the Negotiable Instruments Law and relevant judicial interpretations of laws and regulations, combined with the insufficiencies in practice, in order to identify the problems in the current relief system and to make reasonable suggestions.The paper is divided into five chapters:Chapter I proceed from the basic concept and nature of the negotiable instruments, detailed negotiable instruments forfeiture, and explain the necessity of Relief system of negotiable instruments.The second chapter introduces regulations of the relief system of the civil law and the common law system, analyzing its advantage and rationality, emphasizing that absorption of foreign advanced legislative experience is the best way to improve China’s relief system.The third chapter details our country’s current relief system, including stop payment, the public summons and litigation three measures, in order to analyze the concept, applicable range and elements from the point of view of the law.The fourth chapter analyzes the necessity and feasibility of incomplete instruments’relief system, the provisions of incomplete instruments in the Law of Negotiable Instruments is limited, is not conducive to play function, by analyzing the feasibility of incomplete instrument to provide reference to perfection of the law. Chapter fifth discusses problems in practice, and gives suggestions for improvement.