Legal Research On Electronic Negotiable Instrument

Market economy is legal economy, more importantly, and it is governed by thelaw. With the rapid development of economic globalization, the law system related tomarket economy directly influences the speed and quality of national and regionaleconomic development. The law of negotiable instruments is emerged due to theboom of market economy. To a great extent, economic activity in the market dependson the law of negotiable instruments, which is called “commercial currency” by Marx.The more prosperous the economy is, the more widely the electronic negotiableinstrument (ENI) is used. Electronic bill is developed in recent decade, and essentiallyit is still a kind of negotiable instrument. Since the Law of the People’s Republic ofChina on Negotiable Instruments was passed in1995, China is in the absence of thecorresponding legislation. Electronic negotiable instrument possesses the generalcharacteristics because it got its further development based on the rule of traditionalnegotiable instrument. Through electronic processing in every step from payment tocirculation, the electronic negotiable instrument can be operated smoothly. Undercurrent condition, our country is promoting the proceeding of electronic negotiableinstrument for its critical function in quotation and settling. It is the ultimate goal ofgrowth of negotiable instrument. The efficient running in international current capitaland finance has a big effect on one country’s economic development. As a creativeform of electronic negotiable instrument, although ENI is now starting to emerge inChina, a nice prospect has been seen. It is really difficult to do this research due to thelack of theoretical research and relative literatures. By comparison and analysis, thispaper will try to point out the existing issues of electronic negotiable instrument aswell as the issues related to the current law and present a conception about the lawsystem of electronic negotiable instrument in our country.This paper will discuss the legal issues about Chinese electronic negotiableinstrument from four parts.Part Ⅰ: The definition of electronic negotiable instrument. This part will elaboratethe definition and characteristics and have a further clear concept of electronic negotiable instrument by comparing electronic negotiable instrument with othermodes of payments.Part Ⅱ: The existing legal issue of Chinese electronic negotiable instrument. Firstof all, it will review its history and current situation. Secondly, it will introduce theforeign legislation on electronic negotiable instrument. Last, it will summarize theexisting legal issues about Chinese electronic negotiable instrument, including thedeficiencies of core legislation and relevant legislation. The paper tries to providereference for Chinese legal system on electronic negotiable instrument by drawinglessons from foreign legislative model and summarizing legislative experience.Part Ⅲ: The relevant legal issues of our country originated from electronicnegotiable instrument. In this part, it will emphasize on some deficiencies of Law ofNegotiable Instrument, Criminal Law and Tax Law due to the influences of electronicnegotiable instrument in order to lay the groundwork for structuring Chinese legalsystem on electronic negotiable instrument.Part Ⅳ: The suggestions of legal issues about Chinese electronic negotiableinstrument. First of all, choose the appropriate legislative model macroscopically.Secondly, perfect the relevant legal system in our country, including making lawsand regulations, revising the current laws related to electronic negotiable instrumentand so on.