The Production Of Third Party With Good Faith In Negotiation Instrument Law In The Perspective Of Rechtssechein Theory

Negotiation Instrument is the product of the commodity economy during the long-term development, and the appearance of Negotiation Instrument also greatly promotesthe further development of commodity economy. In the modern economy society, therelationship between the Negotiation Instrument and the people’s economic activities isextremely close, it can be between countries, and become an important means ofcommunication in international trade. And as the currency, the Negotiation Instrument isanother great invention of human wisdom and creativity. And a complete NegotiableInstruments law is able to regulate the development of a commodity economy with itsown rules. These rules have been recognized by many other countries in the world and.Because of this, the economic association and international trade have been increasinglydeveloped among all the counties. These rules cannot be deniedThe RechtssecheinTheory also called the law appearance theory. It was establishedby the German private law scholars in the beginning of this century.The_RechtssecheinTheory has highly importance to protect the safety of transactions andbona fide counterpart’s interests on theoretical significance. Therefore, the RechtssecheinTheory has been widely used in many fields is. But Negotiable Instruments Law has beenconsidered as the one which can incisive reflect the Rechtssechein Theory. The purposeof the rechtssecheinis to maintain the transaction security which will be highly applies tothe Negotiable Instrument Law, thus to promote the circulation of the negotiableinstruments law for the basic concept, is undoubtedly of great significance. Thelegislative cases in respect with foreign counties are directly or indirectly reflectingalthough the Rechtssechein Theory cannot apply on all of the regulations.The application of the Rechtssechein Theory in Negotiation Instrument law madeand voted in the negotiable instruments agency system. The Negotiation Instrument lawto protect the third party have existing problems are as follows:1. The NegotiationInstrument law of our country has stipulated the system of bona fide acquisition, butbecause of its use of "opposite interpretation mode", which stipulates under theconditions that the holder does not enjoy the right of bill, and in turn is applicablegoodwill achieved, such regulations are the presumption of the holder has effectivedelivery contract exists, emphasizing the need of not return notes state, and the contract is not established before the delivery is not stipulated.2. The general principles of thecivil law does not provide for our complete system of apparent agency, negotiableinstrument law for the apparent agency is not mentioned, the legislative lag contradictionreflected in real life is the need of economic development and the law is not perfect inbetween, but also resulted in this kind of disputes in practice confusion, when many ofthe agency by estoppels was mistakenly identified as unauthorized agency.3. In theendorsement standard of review, the Negotiation Instrument law of our country is notclearly defined, this also is not conducive to the protection of the third party.4. need topay the price as a necessary condition of bona fide acquisition negotiable instrument lawof our country, not to pay the corresponding to the price that is not made in good faith,such a provision is obviously in a distorted system, but is not conducive to the protectionfor the third party.First, the delivery contract is not established, should expand the scope of bona fideacquisition in good faith, so that no capacity, limited capacity. The NegotiationInstrument should also apply to bona fide acquisition system, which is more conducive tothe protection of bona fide third party. Second, the Negotiation Instrument law of ourcountry should be targeted for provisions of bill apparent agency system, including itsapplicability and imputation principle, in order to adapt to the constantly acceleratingtransaction situation. Third, a clear endorsement of the standard on reviewing has to besettled to reduce the probability of forgery and alteration. Fourth, the paymentconditional on the price of this element from the bona fide acquisition system removed,the conditions should not be rigid applicable in practice, which can be reference to thepractice of Taiwan, that not to pay for the right hand should be no better than before.