Goncharov A.I. Bill as Calculate-Credit Instrument: Code of Turnover and Participants
- Aleksandr I. Goncharov
- Doctor of Juridical Sciences, Doctor of Economic Sciences, Professor, Department of Constitutional and Municipal Law, Department of Civil and International Private Law
- Volgograd State University, Base Department of the Southern Scientific Center of the Russian Academy of Sciences, Prosp. Universitetsky, 100, 400062, Volgograd, Russian Federation,
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Introduction. The modern market economy very widely uses the documentary calculate-credit instrument allowing the accrual of percentage on the borrowed amount, and this security is called an ordinary bill as opposed to a transfer bill. Intensive use of bills in the economic turnover led to the detailed regulation of the rules for their treatment. Purpose of the research is to reveal the rules and composition of the turnover of bill’s accounting. Methods. The author uses the combination of methods of scientific knowledge, including basic ones – the methods of historicism, systematic analysis and comparative legal method. Results. It is proved that the bill is an absolute, abstract and strictly formalized promise or offer to pay a sum of money. The difference between an ordinary bill and a transfer bill is that an ordinary bill draws unconditional promise of the payer, the bill drawer pays a sum of money, and the bill of transfer documents is addressed to another earlier unconditional bill drawer’s offer of a cash payment. The lack of and / or incorrect execution of at least one of the props of the required information deprives the document of the bill’s force. In this case the obligations under the bill of all participants without exception arise due to the signature on the document. Conclusion. Bill, both individually and issued on the actual situation, nonequity securities, certifies and contains a property right to receive the said amount in it, such right may only be exercised upon presentation of the most valuable paper.
Key words: certificated securities, loan, bill drawer, creditor, reckoning, term, bill holder, bill amount, endorsement.
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