Legal encyclopedia. Letter B

THE BANK

- one of the types of securities, is an object of civil

Legal relationship. It is used as a means of payment and lending. The subject of a promissory note is only money.

V. certifies an unqualified obligation of the drawer or other payer specified in the bill to pay a certain amount to the billholder upon the offense provided for by the promissory note.

V. is simple and translated. In the legal relationship that is generated by a simple bill, two persons participate: the drawer and the drawer (the creditor). Obligations that arise from a bill of exchange are connected by at least three persons, namely: the drawer, the payer and the drawer. Transferable V. - a security containing an unsubstantiated offer of the drawer (drawer) to the payer (drawee) to pay in a certain period to the holder of the note (remittee) or his order established in

A bill of money.

B. should contain a set of signs (requisites), inextricably linked with its form.

Requisites of the bill are:

1) the name "B." (Bill of exchange);

2) a simple and unconditional proposal to pay a certain monetary (bill) amount;

3) the name of the payer (drawee);

4) indication of the due date;

5) indication of the place where the payment is to be made (the residence of the drawee or the residence of the drawer);

6) the name of the person to whom or by order of whom the payment (remittee) is to be made;

7) an indication of the date and place of commission;

8) signature of the drawer (drawer).

B. can be transferred by means of an endorsement (transfer inscription), which is complete (transferring all rights on a bill); Collection (not transferring all rights); Pledge (serves to ensure that the property requirements that the bill holder can have for his predecessor).

The terms of payment for VC may be as follows: on

A certain day; Upon presentation; In so much of the time from the presentation; In so much of the time from the compilation. Other ways of indicating the maturity of a bill entail its invalidity.

The place of payment is the residence of the drawee or the place of residence of the drawer, unless otherwise specified in the bill itself (for example, the residence of the third person paying the bill for the payer).

The date of compilation in the West is usually indicated next to the place where it was compiled. The signature of the drawer completes the document and gives it bill of exchange.

The method of securing payment on the bill is aval, which can be given by a third party or by any signatory V.

The responsibility of all persons liable for a bill to the holder of a bill is solidary. The bill lender

Belongs to the right to sue all responsible persons or to each individually. The person who paid V. acquires the right to claim to the remaining bill debtors, replacing the bill holder.

The limitation period for the claim of the billholder to the payer who accepted the bill,

Is 3 years from the date of payment. The claims of the billholder against the endorsers and against the drawer shall be canceled by the expiration of 1 year from the date of the protest or from the date of payment. The statute of limitations on the requirements of endorsers to each other and to the drawer is equal to 6 months from the day when the endorser paid the bill, or from the day the suit was filed to him.