Dissertations / Theses on the topic 'Bills of exchange and promissory notes'

Magistro darbas nagrinėja vekselių civilinės apyvartos Lietuvoje teisinius aspektus. Darbe įvedama į problemos kontekstą pateikiant trumpą istorinę apžvalgą apie vekselius ir jų naudojimą Lietuvoje, užbaigiant prisijungimu prie 1930 m. Ženevos konvencijos dėl Vieningo įsakomųjų ir paprastųjų vekselių įstatymo ir atnaujinto Įsakomųjų ir paprastųjų vekselių įstatymo bei poįstatyminių aktų priėmimu. Toliau aprašoma vekselio, kaip abstraktaus vienašalio sandorio prigimtis, tipinė vekselių apyvarta, nagrinėjamas vekselių atskyrimas nuo kitų panašias savybes turinčių instrumentų. Probleminėje darbo dalyje nagrinėjamos teorinės ir praktinės vekselių apyvartoje kylančios problemos, atsižvelgiant į įstatyminį reguliavimą, teisės doktriną bei teismų praktiką. Pradedama nuo vekselio formos problemų, vekselį išrašiusio subjekto trūkumų, ydingai (su trūkumais) atliktais įrašais vekselyje, išnagrinėjama įsakomojo vekselio galia mokėtojui. Toliau aptariamas vekselių su pasibaigusiu vienu iš terminų statusas, vekselio ir jo aptarnaujamo sandorio tarpusavio ryšys, dvigubo apmokėjimo (pagal vekselį ir pagal aptarnaujamo sandorio dokumentus) problema, išieškojimo pagal vekselį problemos. Darbas baigiamas įstatymo projekto, siūlančio atsisakyti užprotestuotų vekselių registro, kaip mažai naudingo, analize, ir argumentais paremtu pasiūlymu išplėsti tokį registrą iki neapmokėtų (pagal kuriuos išduoti vykdomieji įrašai) ir užprotestuotų vekselį registro, siekiant padidinti jo naudingumą. Darbe... [toliau žr. visą tekstą]
Vilnius University Master of Law thesis paper „Legal issues of using bills of exchange and promissory notes in civil circulation“ This Master of Law thesis paper is denoted to current legal issues of using bills of exchange and promissory notes in civil circulation. Paper starts with setting the context of the regulation for the bills of exchange and promissory notes, starting with short history and finishing with current laws – accession of Lithuania to the 1930 Geneva Convention providing a Uniform Law for Bills of Exchange and Promissory Notes and subsequent harmonization of the local Law for Bills of Exchange and Promissory Notes, following with supporting bylaws. Next is described the origin of bills of exchange and promissory notes as an stand-alone unilateral contract, typical civil circulation of bills of exchange and promissory notes, differences from the similar legal and financial instruments. In the main part of the thesis paper the theoretical and practical issues of the civil circulation of the bills of exchange and promissory notes are examined, according to statute law, academic papers and court ruling precedents. Starting points are issues with a form of bills of exchange and promissory notes, deficiencies of the subject of bills of exchange and promissory notes, deficiencies in the written clauses on the bills of exchange and promissory notes, and then the power of the bill of exchange (called “unconditional order to pay” in the Lithuanian language) to the... [to full text]

The graduation thesis deals with bills of exchange/promissory notes with the focus on their present possibilities of use. Thus, the thesis combines the legal point of view with the practical point of view. First part of the thesis provides basic information about bills of exchange/promissory notes and their specific qualities. Furthermore, this part concerns about declarations made on them such as acceptance, aval and endorsement. The second part focuses on economic importance of bills of exchange/promissory notes and reveals different functions bills of exchange/promissory notes can have. At the end there is an overview summing up both parts.

L’intérêt de la présente recherche est d'étudier d’une manière générale les communications électroniques dans le commerce international, et puis à titre particulier d’interpeler les nouveaux défis qui relèveraient de l’utilisation des "documents transférables électroniques", en réfléchissant sur les différentes approches et les méthodes à adopter afin de remédier aux éventuelles déficiences technologiques, identifier puis combler les lacunes juridiques qui se révéler lors de ces échanges. Il s’agirait donc d’une enquête sur les questions juridiques liées à la création, à l’utilisation et à l’exécution du "document transférable électronique" ; il s’agit d’un terme crée par la CNUDCI, ce qui renvoie d’une manière générale à l’équivalent électronique d’un instrument transférable négociable ou d’un document titre. Nous identifions principalement les trois grands axes. Premièrement, la protection des données personnelles. Elle fait l’objet de plusieurs réformes législatives. La plus récente est le Règlement européen 2016/679 du 27 avril 2016 qui vise à promouvoir l’utilisation de l’outil informatique, tout en accordant la protection appropriée aux données à caractère personnel. Deuxièmement, l'exigence d’unicité d’un document transférable (« Garantie de singularité »). La garantie de l’unicité d’un document exige qu’il soit le seul qui existe ou bien, que toute copie soit clairement identifiable comme telle. Les conséquences éventuelles de la reproduction non autorisée de tout document transférable électronique donnant au porteur ou au bénéficiaire le droit de demander la remise de marchandises ou le paiement d’une somme d’argent rendent nécessaire l’élaboration de mécanismes pour garantir l’unicité de ces instruments. Troisièmement, la possession du ‘document transférable électronique’ et la notion de contrôle pour l’identification du porteur. Outre le traitement de la question de l’exigence de la singularité, la recherche d’un mécanisme fonctionnellement applicable et équivalent pour satisfaire à l’exigence de la possession matérielle du document papier constitue un défi majeur. Dans la plupart des modèles juridiques régissant les documents transférables électroniquement, la notion de “contrôle” d’un document électronique est utilisée en tant qu’équivalent fonctionnel de la possession ; cela signifie que la personne qui exerce le contrôle du document transférable électronique est considérée comme le porteur habilité à s’en prévaloir. Ces documents électroniques sont gérés par des prestataires de confiance qualifiés pour garantir leur sécurité
The interest of this research is to study in general, the electronic communications in an international context, and then to focus on the ongoing challenges that occur on the field of "electronic transferable documents"; for this we shall perceive the methods that have been adopted for the purpose of using such documents, in order to prevent eventual technological deficiencies, identifying and filling the legal gaps revealed throughout our study of these new challenges.Therefore we shall comprehend and defy the legal boundaries, in order to create, use and transfer "electronic transferable documents". It is a pre-requisite to clearly identify the subject of this study, which is the term 'electronic transferable record, a concept created by UNCITRAL, which refers generally to ' Electronic equivalent of a transferable record (negotiable or non-negotiable) or a document of a legal right.We shall identify the three following main topics:I. The protection of personal data and privacy has been subject to several legislative reforms. The most recent one is the European Regulation 2016/679 dated April 27th, 2016. This reform aims to promote the use of the IT (Information Technology) tools, while granting the appropriate protection to the personal data. These electronic records are managed by qualified services providers.II. Requirement for uniqueness of the record ("Guarantee of uniqueness")The guarantee of the uniqueness of the document is to ensure that there is only one possible holder and owner of that document, as in the case of paper document, and that any copy is clearly identifiable as such. As a result of an unauthorized reproduction of any electronic transferable record, any such holder or beneficiary shall have the right to request delivery of goods or the payment of a certain sum of money; thus the need to insure the uniqueness of these electronic records.III. The possession of an electronic transferable record.In addition to the above, the need to identify a functional equivalent approach to satisfy the requirement of possession in the case of electronic transferable document, which is a major challenge.IV. Concept of control and identification of the holderIn most legal models governing electronic transferable records, the definition of "control" of an electronic document is used as a functional equivalent to possession. That is, the person who controls the electronic transferable record is deemed to be the holder and the one entitled to use it

Les promesses de payer sont des contrats par lesquels une personne s’engage envers un créancier à payer ce qui lui est dû. De tels actes sont courants ; leurs applications sont variées. Le cautionnement, l’acceptation d’une lettre de change, la promesse d’exécuter une obligation naturelle, l’engagement du délégué envers le délégataire, le constitut, la garantie autonome, la souscription d’un billet à ordre, etc., sont des promesses de payer. Plus précisément, ces actes sont des applications diverses d’une même figure juridique : la promesse de payer. Cette dernière, déshabillée des particularités propres à chacune de ses applications spéciales, se présente comme une figure juridique unitaire, pourvue d’une nature et de caractères permanents. Ayant pour objet un paiement, elle suppose toujours l’existence d’une dette à acquitter. Cette dette, ou « obligation principale », constitue sa cause objective. Contrairement à une simple reconnaissance de dette, la promesse ne se borne pas à déclarer l’existence de celle-ci. En tant qu’engagement d’exécution, elle donne naissance à une nouvelle obligation, l’ « obligation de règlement », venant s’adjoindre à la première en vue de son paiement. L’obligation de règlement, à ce titre, constitue l’accessoire de l’obligation principale. Son régime, de sa naissance à son extinction, sera donc plus ou moins lié à celui de cette dernière
Promises to pay are contracts by which a person commits to pay to a creditor what is owed to him. Such acts are as common as they are various. For instance, bond, acceptance of a bill of exchange, promise to perform a natural obligation, commitment of the delegate to the delegatee, autonomous guarantee, subscription of a promissory note, etc. are promises to pay. In fact, such acts are different applications of a single legal figure : the promise to pay. Apart from the specificities of each of its applications, the promise to pay reveals itself as a uniform legal act with a permanent nature. Because its subject consists in a payment, the promise to pay always presupposes the existence of a debt. Such debt, or “primary obligation”, is the “objective cause” of the promise. Unlike a simple “IOU”, a promise to pay is not limited to declare the existence of the primary obligation. As a commitment, it also produces a new obligation, the “obligation to pay”, which coexists with the primary obligation. The obligation to pay, as such, is ancillary to the primary obligation. Its legal status, from its birth to its expiration, will be closely linked to that of the primary obligation

The topic of my diploma thesis is "The Concept and Types of Bills of Exchange and Promissory Notes". The reason, why I chose this theme, is my interest in business law and in particular in the securities law. However, the main motivation which led me to analyze this legal sphere, were anteriorly my previous work experiences. From the plenty of cases I have had the opportunity to see, emerged for me a surprising conclusion, namely that the participants of the bill relationships are often not in a significant amount familiar with the essential content requirements of a bill of exchange as a security, which in the case concerned led to serious and thoroughly negative consequences. It is obvious that a bill of exchange represents for a general public not easily understandable problematic which requires precision and excellent knowledge of law. For this reason I have paid attention to the issue of essential appurtenances of a bill of exchange whose presence is demanded by law and without their remark a bill of exchange is fundamentally not valid document. The goal of this diploma thesis is to analyze and characterize a bill of exchange as a legal instrument and to define its basic attributes in a view of the fact that in the Bill of Exchange and Cheque Act, not even in other legal rules including...

in English Securities with a focus of bills of exchange and promissory notes as important tools in business obligations The institute of securities accompanies the society for many centuries and has become an indispensable part of economic life. Although, with few exceptions represented apparently only by Slovak and Swiss legal order, there is no general definition of concept of security, it does not hinder to define its characteristics, which are the instrument, respectively any material substrate able to capture a written declaration of will and incorporated subjective property right originating in the private area. Of the above may be deduced the close connection between right and document, which is it's materialization. In connection with the development of social needs, especially in the area of trade, disadvantages of document that was originally considered as a necessary condition of the existence of a valid security, appeared. As a result, the process of dematerialisation of securities started and the document has been replaced by the entry in the register of securities. Nowadays, therefore, the securities may exist both in paper and in book entry form, what undoubtedly facilitate the implementation of some complicated business transactions. The presented thesis combines the interpretation...

RESUME Bills of exchange and promissory notes are one of the most used instruments of business relationships in the area of Geneva law. This fact was undoubtedly caused by the unique attributes of bills of exchange and promissory notes which are represented especially by formality, obviousness, transparency and imperative nature. The main reason for compiling this dissertation is to describe disputed facts of bills of exchange and promissory notes with regard to the cases and scientific research. The dissertation deals only with the more detailed survey of the main topic, the other matters of legal relations bills of exchange and promissory notes will not be covered in this research. It contains authentic texts representing and explaining the topics in question. The dissertation provides a coherent interpretation of the chosen topic and it is the basis for the solution of certain problems in practice. The dissertation consists of four chapters and each of these chapters is subdivided into more specific units. The first chapter is an introduction to the history and current system of exchange law. The second chapter deals with the basic institutions of exchange law including types of bills of exchange and promissory notes. The third chapter is a resource for legal information and it deals with judicial...

- 1 - Abstract The topic of my diploma thesis is "The concept and types of bills of exchange and promissory notes". The reason why I chose this topic is my interest in securities law, especially in bill of exchange law, and my previous work experience. I regularly work with bill of exchange law in my employment so this is a reason why I have decided to expand my knowledge of this particular law. The bill of exchange and check act number 191/1950 Coll., as amended, is the basis of legislation for this kind of law in the Czech Republic. The most significant advantage of this act is the constancy, which is given by the general method of treatment of this issue. This advantage can be considered as one of the main disadvantages too, because the solution of unique issues is left to case law and literature. This is a reason, why the core of this diploma thesis is chapter 5, where I analyse the essential requirements of bill of exchange and promissory note. Also the issue of graphical design is a very interesting and actual topic. The diploma thesis is structure into seven chapters. The first chapter is devoted to the historical development of bill of exchange and promissory note. This chapter contains also the historical development of individual institutes of bill of exchange law. The second chapter discusses the...

- The concept and types of bill of exchange The topic of this thesis is "The concept and types of bill of exchange". The reason for choosing this topic has been my interest in bill of exchange law, which was awaken by my own experience with a bill of exchange on one hand and by the gripping seminars of subject called "Bills of Exchanges", which is taught at the Faculty of Social Sciences of the Charles University in Prague, on the other hand. The aim of the thesis is to characterize the bill of exchange and promissory note, to define their basic characteristics, to explain, what kind of them exist and to analyze their basic requirements. The thesis is composed of six chapters. The first chapter discusses the history of bill of exchange and promissory note. It is divided into three sections that deal with the origin and both national and international development of bill of exchange law. The second chapter is devoted to the current legislation of bill of exchange law. It introduces the sources of bill of exchange law and relations between them and the most specific characteristics of the bill of exchange law, which is rigor cambialis. The third chapter, which consists of three sections, defines the concept of bill of exchange and promissory note, provides a list of their features and the most...

Abstract/ Concept of a bill of exchange and promissory note and its types The purpose of my thesis is to provide an introduction to the concept of a bill of exchange and promissory note particularly regarding its substantial requirements and stipulations. The thesis consists of five chapters. Chapter One provides an introduction into the history of bills of exchange. It mainly deals with the unification of legal regulations in Europe and with the process of evolution of legal regulations of both promissory notes and bills of exchange in Czech Republic. Chapter Two of the thesis is the basic introduction into the concept of a bill of exchange and a promissory note as a security, which is also, together with Chapter Three, dealing with the parties to the promissory note and bill of exchange. This chapter provides necessary introduction and basis for the next chapters four and five. Chapter Four is called "Substantial requirements of the bill of exchange". This chapter is one of the key parts of the whole thesis and it describes in detail all the substantial requirements of the bill of exchange. In situations where specialized literature does not provide unanimous point of view on some issues, the thesis provides with different perspectives of views held by authors often supported with judgments of the courts....

This Thesis concentrates on special instruments of the Bill of Exchange - aval, protest and domicile. The Paper describes their legal framework and currentcase law.The Thesis is divided into three parts, each of which is dedicated to one of the above mentioned institutes of the Bill of Exchange. A case fom author's law practice is included in the chapter dedicated to aval. It specifically elaborates on particularities of the Bill of Exhange avalation. The chapter about protest analyses the author's survey (2013)in which a couple of Czech municipal administrations were requested to certify a protest of a Bill of Exchange.

The purpose of my thesis, bearing the title "The principle of draft rigorousness (rigor cambii) in the perspective of Czech substantive and procedural law", is to analyze the term of draft rigorousness as well as to consider its influence on chosen institutes of the draft law. The reason to choose such topic for my thesis is my deep interest in this area of law, thanks to its precise regulation and rich history of evolvement of individual draft institutes. The paper is divided into five parts, where the introductory part is followed by three major chapters and the conclusion. The first of the chapters is called The Draft rigorousness, the second The Term of draft rigorousness and the third The Individual categories of draft rigorousness. The first chapter briefly outlines the characteristics of draft law as such with reference to the rigorousness of draft law in comparison to the general legal regulation. Furthermore it provides a comparison of the continental and Anglo-Saxon draft law in terms of formality and rigorousness of the regulation. The second chapter of my thesis focuses on the term of draft rigorousness itself and attempts to define its substantiality. The issue studied is whether to understand the term of draft rigorousness only as an attribute of the draft regulation, or if it should...

- The concept of a bill of exchange and promissory note I have chosen the topic of the Thesis "The concept of a bill of exchange and promissory note" particularly due to the fact that I have become interested gradually in the issue of bills of exchange and promissory notes and in particular bill of exchange and promissory note essentials during the seminars of the commercial law and writing of the thesis has been an opportunity for me to extend my knowledge, concerning this institute. I got intrigued by the bills of exchange and promissory notes, particularly by their remarkably constant and permanent legislation in conjunction with specific requirements for formal quality, which is typical for bills of exchange and promissory notes. In my opinion, the bills of exchange are widely used instrument in our daily life, whose features and drawbacks their users may not even realize. It is for that reason, that the bill of exchange and promissory note essentials need increased attention due to their fundamental importance. The aim of my thesis has been to analyze primarily individual bill of exchange and promissory note essentials with the use of literature, and also of the rich case law, which relates to this theme. The thesis consists of four chapters, with the first chapter entitled "Introduction to...

- The concept of a bill of exchange and promissory note The topic of the master thesis is "The concept of a bill of exchange and promissory note". This topic has been chosen for its attractiveness, topicality and difficulty. The author's work experience was the motivation for the selection of this topic. The objective of the diploma thesis is to give a characterization of the bill of exchange and promissory note, to explain what kinds of them exist and to analyse their essential elements. The diploma thesis is structured into eight chapters. The first chapter introduces the issue of bills of exchange and promissory notes and outlines the objectives of the thesis. The second chapter discusses briefly the history of the bill of exchange and promissory note and of the bill of exchange law at all. It is divided into three sections in which it is referred to the origin of the bills of exchange, to the historical importance of the bill of exchange law and especially to the international dimension, which the bill of exchange law acquire and which contributes to almost perfect current legislation in our country. The third chapter is devoted to the sources of exchange law in the Czech Republic and to the relations between them. The greatest attention is dedicated to the bill of exchange and check act number...

- Blank Note This thesis deals with blank note (incomplete instrument) as a particular subset of promissory notes/bills of exchange. It is comprised of a brief introduction on history of securities followed by a summarization of development of prommisory note, including its legislative history in the Czech Republic. International conferences aiming to unify the subject matter are also considered. The main body of the text aims to define the incomplete instrument; the definitions itself subsequently subdivided to provide comprehensive description of form, minimal content of the instrument, demands placed on signature and on the intent of parties to create an inchoate note. A whole individual chapter investigates one of the crucial elements typical of incomplete instrument, which is authority to fill in empty spots as given by the signee to a holder. Thus, its goal is to illustrate its nature and the ways it can originate and terminate. It being the crucial issue of many litigations concerning a once incomplete promissory note, particular attention is given to termination of such authority while the largest part of this chapter looks at application of licence to fill in violation of the authority given. In this context, a brief description of possible penal repercussions follows. The thesis also...

Au cours d'une transaction portant sur une acceptation bancaire (ci-après «BA» tel que dénommée dans le jargon juridique) différents types de relations peuvent s'établir entre les parties impliquées, certaines plus directes que d'autres. Dans une transaction donnée, à part le client et la banque, on peut trouver une ou plusieurs banques participantes et un ou plusieurs investisseurs, qui deviennent détenteurs de BA. La situation peut devenir complexe et les relations légales risquent de devenir assez compliquées. Cependant, il est important d'identifier si la relation s'est établie à travers l'instrument de BA, si elle existe par le biais d'une relation contractuelle ordinaire ou encore, si elle existe par le fait de la loi. Une bonne analyse des circonstances entourant la transaction, des facteurs connexes à la transaction et des droits et obligations qui existent entre les parties, sera nécessaire pour déterminer laquelle de la loi provinciale ou fédérale s'appliquera, et dans quelle mesure. Une fois accordée, la BA est gouvernée par la Loi sur les lettres de change. Toutes solutions apportées à un problème qui implique des BA, doivent, en principe, respecter la nature inhérente de la BA en tant qu'effet de commerce, gouverné par la loi fédérale. En matière de BA, c'est, soit la Loi sur les lettres de change soit la Loi sur les lettres et billets de dépôt (Depository Bills and Note Act) qui s'appliqueront à l'acte. Comme il existe des lois fédérales applicables à la BA, l'objet de notre étude est de déterminer si, et dans quelle circonstance la loi de la province, tel que le Code civil du Québec, trouvera application et éclaircira dans certains cas la disposition contenue dans la Loi sur les lettres de change, notamment lorsque les dispositions de ladite loi sont silencieuses ou ambigües. La solution la plus simple serait d'appliquer la loi provinciale aux matières qui ne sont pas traitées dans la loi, étant donné que les lois provinciales apportent souvent un complément à la législation fédérale. Cependant, la Loi sur les lettres de change contient des dispositions spéciales, tel que l'article 9 qui stipule : « 9. Les règles de la common law d'Angleterre, y compris en droit commercial, s'appliquent aux lettres, billets et chèques dans la mesure de leur compatibilité avec les dispositions expresses de la présente loi. » Cette disposition a crée une certaine confusion relativement à l'application du droit civil du Québec en matière de Lettres de change. En effet, il existe un doute quant à savoir si l'application de l'article 9 est une incorporation par référence qui exclue totalement l'application du droit civil. Cette question continue de se poser inexorablement dans la doctrine et la jurisprudence. Elle a en effet donné lieu à une série de théories quand au degré d'application de la common law en matière de lettres de change. Une revue de la jurisprudence dominante nous permet de conclure que les tribunaux ont accepté l'application du droit provinciale dans certaines questions impliquant les lettres de change. La question essentielle traitée lors de notre analyse est la suivante: lorsqu'un litige prend naissance dans une transaction de BA, quelle est la règle qui devra s'appliquer? Quel sera le droit qui gouvernera les problèmes émergeant dans une BA, celui du Code Civil du Québec ou celui de la common law d'Angleterre? Étant donne le nombre de cas qui sont portés devant les cours de justice en rapport avec des transactions de BA, comprendre quelle sera la loi applicable est d'une importance fondamentale. Pour répondre à cette question, nous commencerons par un examen de l'historique, du développement et de l'évolution de la BA. Afin de mieux comprendre la BA, nous débuterons par un bref survol des origines de cet instrument juridique. Dans le deuxième chapitre, nous analyserons la nature et le caractère légal de la BA. Cela constituera le cadre aux travers duquel nous pourrons identifier les règles et les principes qui s'appliquent aux différents aspects de la transaction de BA. Le chapitre trois fera l'objet d'un examen détaillé des mécanismes de l'opération de BA tout en étudiant de près les exigences imposées par la législation applicable. Après avoir examine l'aspect légal de la BA, nous procéderons au chapitre quatre, à l'étude de l'applicabilité de la loi provinciale relativement à certains aspects de la transaction de BA. A cet effet, nous examinerons les différentes approches de compréhension de la Loi sur les lettres de change et plus particulièrement la problématique rencontrée à l'article 9. Nous étudierons aussi l'application et l'interprétation de cette loi par les tribunaux du Québec au cours du siècle dernier. Les juges et les juristes se sont penchés sur les sens qu'a voulu donner le législateur lorsqu'il a stipulé dans l'article 9 «Le règles de la common law d'Angleterre, y compris en droit commercial, s appliquent aux lettres, billets et chèques dans la mesure de leur compatibilité avec les dispositions expresses de la présente loi ». Cette section doit-elle être appliquée à la lettre, nous obligeant à appliquer la common law d'Angleterre a chaque problème qui peut se poser en relation avec les lettres et les billets? Le Parlement a-t-il l'intention que cette disposition s'applique également au Québec, dont le droit privé est basé sur le système du Code Civil? Notre étude portera sur les différentes approches d'interprétation qui offrent une diversité de solutions au problème posé par l'article 9. Finalement, compte tenu des nouveaux développements législatifs, au chapitre cinq, nous proposons une méthode en vue de déterminer la loi applicable aux différents aspects de la transaction de BA. Notre analyse nous a conduit à adopter la solution proposée par la majorité des juristes, à la différence que notre approche de l'article 9 est basée sur des raisons de politique. Nous avons donc adopté la stricte dichotomie (en tant qu'effet négociable d'une part, et d'une sorte de contrat et de propriété de l'autre) en prenant en compte les difficultés inhérentes à déterminer quand l'un finit et l'autre commence. En conclusion, selon notre opinion, il existe deux solutions. Premièrement, il y a la possibilité que l'article 9 puisse être écarté. Dans ce cas, toutes les matières qui ne sont pas expressément évoquées dans la loi tomberont dans la compétence de la loi provinciale, comme c'est le cas dans d'autres types de législations fédérales. Dans ces situations, le droit civil du Québec joue un rôle supplétif dans les applications d'une loi fédérale au Québec. Deuxièmement, modifier l'article 9 plutôt que d'en écarter son application offre une autre possibilité. Incorporer la large stricte dichotomie dans l'article 9 nous semble être une solution préférable. La disposition pourrait se lire comme suit: « Les règles de la common law d'Angleterre incluant le droit commercial dans la mesure ou elles ne sont pas incompatibles avec les dispositions expresses de la Loi, s’appliquent aux lettres, billets, et chèques au sens stricte. Pour plus de certitude, les lettres et les billets au sens strict, incluent la forme, la délivrance et I’émission des lettres, billets, et chèques.» Ce type de changement se révélera être un pas important dans le but de clarifier la loi et déterminer l'équilibre à trouver entre l'application des lois fédérales et provinciales en matière de BA.
When dealing with a BA transaction several types of relationships may develop, some more direct than others. In any given transaction, aside from the customer and bank, there may be one or more participating banks, investment dealers, or multiple investors, who become holders of the BA. The situation may be complex and the legal relationships may become quite intricate. However, it is important to identify whether the relationship is established through the BA instrument, or whether it exists by ordinary contractual relationship or by operation of law. Proper analysis of the surrounding circumstances, the connecting factors, and the obligations and the rights which exist between the parties, will be necessary in determining whether or not the contractual rules of the provinces, or federal law rules apply, and to what extent. Granted, the BA instrument is clearly governed by the Bills of Exchange Act. Any solution introduced to a problem involving a BA must, in principle, respect the inherent nature of the BA as a negotiable instrument, governed by federal law. In the case of BAs, either the Bills of Exchange Act or the Depository Bills and Notes Act will apply to the instrument. Since there are applicable federal rules to BAs, the purpose of our study is to determine if, and under what circumstances, provincial law, such as the Civil Code of Quebec, would find application with respect to BAs and complement the provisions of the Bills of Exchange Act where the statute is silent or ambiguous. The simple solution would be to apply provincial law to those matters not addressed in the Act, as provincial law typically compliments federal legislation. However, the Bills of Exchange Act contains a peculiar provision, namely section 9, which provides: “9. The rules of the common law of England, including the law merchant, save in so far as they are inconsistent with the express provisions of this Act, apply to bills, notes and cheques.” This provision has created confusion as to the appropriate application of Quebec civil law to matters of bills of exchange. Indeed, there is doubt as to whether section 9 is in fact an incorporation by reference that effectively precludes the application of civil law. The problem continues to be a contentious issue in the doctrine and jurisprudence. The "inexorable character" of the problem created by the interpretation of this provision has given rise to a number of diverse theories regarding the extent of the applicability of common law to matters of bills of exchange. As we can clearly conclude from a review of the jurisprudence, the courts, for the most part, have been conciliatory to the application of provincial law in issues involving bills of exchange. The majority of judges express a hesitance to jeopardize the integrity of the provincial law as complimentary law in order to accommodate the idea that Parliament's desire was to enact an extensive and far-reaching law of bills and notes. The position of most doctrinal writers is very much the same. The essential question of our analysis is which rules will govern the issues, which emerge within BAs - the Civil Code of Quebec or the common law of England? From a Canadian perspective, understanding which law is applicable to BAs is of paramount importance, since courts are dealing with an increasing amount of banker's acceptance transactions. To answer this question, we will begin with an examination of the origin and evolution of the banker's acceptance. In Chapter Two, we will also analyze the nature and legal character of the BA. This will establish the framework through which we can identify the rules and principles that apply to the various aspects of the BA transaction. In Chapter Three, we examine the mechanics of the BA operation step-by-step, paying close attention to the requirements imposed by legislation. We look at the laws applicable to the BA and describe the various agreements pertaining to the BA. Having examined the legal nature of the BA as being a negotiable instrument governed by federal law and a contract and moveable pursuant to the Civil Code of Quebec, we will proceed in Chapter Four to consider the applicability of provincial law to aspects of the BA transaction. To this end, we examine different approaches to understanding the Bills of Exchange Act, particularly the problematic section 9, as well as the applicable law as understood in Quebec jurisprudence during the past century. Judges and jurists alike have attempted to understand what was meant when the legislator stated in section 9, "[t]he rules of the common law of England, including the law merchant, save in so far as they are inconsistent with the express provisions of this Act, apply to bills, notes and cheques." Is this section to be interpreted literally, requiring us to apply English common law to every issue that might arise in connection with bills and notes? Does Parliament intend this provision to apply equally to Quebec, whose private law is based on the civil law system? Our study will look to interpretive approaches offering a variety of different solutions to the problem of section 9. Finally, given new legislative developments, in Chapter Five, we offer a proposed method to determine the law applicable to various aspects of the BA transaction. Our analysis has lead us to adopt the result advocated by the majority of jurists, but with the recognition that our approach to section 9 is based on reasons of policy. We have adopted the strict/wide dichotomy, (as a negotiable instrument on the one hand, and as a specie of contract and property on the other hand) realizing the difficulties inherent in determining where one ends and the other begins. Therefore, in our opinion there exist two solutions. Firstly, there is the possibility that section 9 could be repealed. In this case, all matters not expressly dealt with in the Act would fall to be governed by provincial law, as is the case with other federal legislation. In these situations, Quebec civil law takes on a suppletive role in applying a federal law in Quebec. Secondly, there is the possibility of modifying rather than repealing section 9. Incorporating the strict/wide dichotomy into section 9 itself seems to us to be a more preferable solution. The provision could read, "The rules of the common law of England, including the law merchant, save in so far as they are inconsistent with the express provisions of this Act, apply to bills, notes and cheques in a strict sense. For greater certainty, bills and notes in a strict sense include the form, issue, negotiation and discharge of bills, notes and cheques." Alternatively, a Law Reform Commission could draft an Act that defines section 9 according to the strict /wide dichotomy. These types of changes would prove to be an important step to clarifying the law, and strike the appropriate balance between the application of federal and provincial law to bankers' acceptances.