What is bill recourse? The so-called right of recourse for bills refers to the right of the holder to request the repayment of the amount, interest and expenses of the bill of exchange to its predecessor when the bill is not paid or accepted or has other legal reasons. It is a protection system for the drawer when the bill is not accepted or paid, but this protection system does not originate from the special provisions of the law, but from the rights of the bill itself. Today, the editor will focus on the period and object of the exercise of the right of recourse for bills. Interested friends can read the following patiently.
1. The exercise period
of the bill recourse is based on the exercise period of the bill recourse, and the recourse can be divided into maturity recourse and pre-due recourse. Maturity recourse is the recourse exercised when the instrument is not paid; pre-due recourse is the recourse when the instrument is not honored, or when the payer dies, escapes, and for other reasons (such as being declared bankrupt) . Due to the different periods of exercise of rights, the means of being prevented from exercising are also different. According to the Negotiable Instrument Law, the right of recourse at maturity can only be blocked by participating in the payment; the right of recourse before the period can be blocked by participating in acceptance or payment. There is a difference between recourse and maturity recourse.
Taking the subject of recourse as the standard, it can be divided into first recourse and recourse. The first recourse, also known as the initial recourse, refers to the recourse made by the holder of the bill; the second recourse is the recourse made by the debtor of the bill that has been paid off, that is, the original debtor is transformed into the right holder on the bill.
2. The exercise object of the
bill recourse The object of the exercise of the bill recourse is the recourse obligor. According to the Negotiable Instruments Law, the obligors of repayment of recourse include: endorsers, invoicers and other instrument debtors. The bill responsibility of the endorser is to guarantee the acceptance of the bill and the guaranteed payment, so the endorser is the repayment obligor of the right of recourse. However, if there is a special agreement to exempt the guarantee liability on the bill, the holder shall not exercise the right of recourse before the expiration date. The invoicer is the last repayment obligor of the debt on the bill. The invoicer has the responsibility to guarantee acceptance and guarantee payment, so the invoicer is also the repayment obligor of recourse. However, if there is a special agreement to exempt the guarantee and acceptance on the bill, the holder shall not exercise the right of recourse before the expiration date. Other debtors of bills, such as guarantors and participating acceptors, have the obligation to pay for the guaranteed person and the participants after joining the bill relationship, so they are also the repayment obligors of the right of recourse.
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1. The exercise period
of the bill recourse is based on the exercise period of the bill recourse, and the recourse can be divided into maturity recourse and pre-due recourse. Maturity recourse is the recourse exercised when the instrument is not paid; pre-due recourse is the recourse when the instrument is not honored, or when the payer dies, escapes, and for other reasons (such as being declared bankrupt) . Due to the different periods of exercise of rights, the means of being prevented from exercising are also different. According to the Negotiable Instrument Law, the right of recourse at maturity can only be blocked by participating in the payment; the right of recourse before the period can be blocked by participating in acceptance or payment. There is a difference between recourse and maturity recourse.
Taking the subject of recourse as the standard, it can be divided into first recourse and recourse. The first recourse, also known as the initial recourse, refers to the recourse made by the holder of the bill; the second recourse is the recourse made by the debtor of the bill that has been paid off, that is, the original debtor is transformed into the right holder on the bill.
2. The exercise object of the
bill recourse The object of the exercise of the bill recourse is the recourse obligor. According to the Negotiable Instruments Law, the obligors of repayment of recourse include: endorsers, invoicers and other instrument debtors. The bill responsibility of the endorser is to guarantee the acceptance of the bill and the guaranteed payment, so the endorser is the repayment obligor of the right of recourse. However, if there is a special agreement to exempt the guarantee liability on the bill, the holder shall not exercise the right of recourse before the expiration date. The invoicer is the last repayment obligor of the debt on the bill. The invoicer has the responsibility to guarantee acceptance and guarantee payment, so the invoicer is also the repayment obligor of recourse. However, if there is a special agreement to exempt the guarantee and acceptance on the bill, the holder shall not exercise the right of recourse before the expiration date. Other debtors of bills, such as guarantors and participating acceptors, have the obligation to pay for the guaranteed person and the participants after joining the bill relationship, so they are also the repayment obligors of the right of recourse.
The above content comes from: Bank Acceptance Bill Discount Information Platform, please indicate the source for reprinting, thank you!