General description
Inputs:
Most people nowadays deal with commercial papers, whether written, endorsed, accepted or guaranteed … etc as method to settle obligations ensuing of various transactions. Thus, these papers need to be regulated by legal rules and provisions that guarantee appropriate protection to their parties and at the same time support trust in these papers, which would motivate people to deal with them. Hereby the student of law had to understand the provisions of these commercial papers to serve the commercial environment and those who deal in them. To develop the students knowledge about the commercial papers, their essence, importance, characteristics and economic functions. To introduce types of commercial papers and basic principles of exchange law.
To develop the students knowledge about the bill of exchange and its legal rules regarding issuing and circulation, amount guarantees, and how to collect it.
Outputs:
To develop the students knowledge about the promissory note (bill to order) and its legal rules regarding issuing and circulation, amount guarantees, and how to collect it.
To develop the students knowledge about the check and its legal rules regarding issuing and circulation, amount guarantees, and how to collect it.
Topics:
• Introduction of commercial papers, their importance and types
• Characteristics of commercial papers and how to differentiate them from some similar papers
• Capacity of commercial papers and their economical functions
• Basic principles of exchange law
1. Bill of exchange
A. Definition of bill of exchange and its form, and the legal relations between its parties
B. Issuing and circulation of the bill of exchange, guarantees and rules to collect
C. Bill of exchange repudiation and the action to recover the amount of a dishonored bill
2. Promissory note: its definition, issuing and the application of the provision of bill of exchange onto it
3. The check: definition, form, issuing, circulation, and guarantees and rules to collect