A blank bill, also known as a blank authorization bill, refers to a bill that the bearer consciously incompletely records the matters that should be recorded on the bill when issuing the bill, and authorizes the bearer to complete the record later. In Anglo-American law, blank bills are called "unfinished bills", and Japanese bills law calls them "white hands".
Blank bills have different effects at different stages. Once the supplementary notes are complete, they have the same effect as complete bills with complete content and form. Moreover, the effect of blank bills after the completion of the supplementary writing is retroactive, and it is binding on all the parties involved in the bills before the completion. Below, please allow Xiaorong of the acceptance bill discount quotation platform to make a detailed analysis of the validity of blank bills:
1. The legal effect of blank bills before the exercise of the right to supplement. A blank note is an outstanding note prior to the exercise of the supplementary right. Therefore, the bearer cannot exercise the rights on the bill with the blank bill and cannot present for payment. If a blank bill is presented for payment, the effect of the right to request for return will not be preserved, and the debtor will not be liable for delayed payment.
2. The legal effect of blank bills after the supplementary right is exercised. A blank bill becomes a complete bill after it is fully replenished, which leads to the following legal consequences: if the bearer makes a supplementary record within the scope of authorization, the supplemented bill will have legal effect in accordance with the negotiable instruments law, and it has retroactive force. If the bearer fails to make an additional record as authorized, the direct parties may exercise the right of defense against the negotiable instrument due to the defect in the basic relationship of the instrument, but for a bona fide bearer, the authorizer should still be responsible for the instrument. If the supplementary items exceed the authorization and the losses caused to the authorized person, the unauthorized person shall bear the corresponding responsibility.
3. Validity of lost or stolen blank bills. Article 15 of my country's "Negotiable Instruments Law" stipulates: "If the instrument is lost, the loser may notify the payer of the instrument in time to report the loss and stop payment, except for instruments that do not record the payer or the payer and its agent payer cannot be identified." Therefore, , if the blank bill is lost or stolen, the drawer of the blank bill can apply to the court to issue a notice of loss reporting and cessation of payment, but generally speaking, it is not allowed to apply to the court for public notice, and the blank bill shall be declared invalid by an ex-rights judgment, because at this time the holder of the blank bill is invalid. People can no longer exercise the right to supplement. In the event of finding a blank bill and not returning it, the person who lost the blank bill has the right to file a lawsuit with the people's court.
The above is all about what a blank bill is and what effect a blank bill has. If you want to know the latest and most complete bill knowledge, you are welcome to continue to pay attention to us, thank you!
Blank bills have different effects at different stages. Once the supplementary notes are complete, they have the same effect as complete bills with complete content and form. Moreover, the effect of blank bills after the completion of the supplementary writing is retroactive, and it is binding on all the parties involved in the bills before the completion. Below, please allow Xiaorong of the acceptance bill discount quotation platform to make a detailed analysis of the validity of blank bills:
1. The legal effect of blank bills before the exercise of the right to supplement. A blank note is an outstanding note prior to the exercise of the supplementary right. Therefore, the bearer cannot exercise the rights on the bill with the blank bill and cannot present for payment. If a blank bill is presented for payment, the effect of the right to request for return will not be preserved, and the debtor will not be liable for delayed payment.
2. The legal effect of blank bills after the supplementary right is exercised. A blank bill becomes a complete bill after it is fully replenished, which leads to the following legal consequences: if the bearer makes a supplementary record within the scope of authorization, the supplemented bill will have legal effect in accordance with the negotiable instruments law, and it has retroactive force. If the bearer fails to make an additional record as authorized, the direct parties may exercise the right of defense against the negotiable instrument due to the defect in the basic relationship of the instrument, but for a bona fide bearer, the authorizer should still be responsible for the instrument. If the supplementary items exceed the authorization and the losses caused to the authorized person, the unauthorized person shall bear the corresponding responsibility.
3. Validity of lost or stolen blank bills. Article 15 of my country's "Negotiable Instruments Law" stipulates: "If the instrument is lost, the loser may notify the payer of the instrument in time to report the loss and stop payment, except for instruments that do not record the payer or the payer and its agent payer cannot be identified." Therefore, , if the blank bill is lost or stolen, the drawer of the blank bill can apply to the court to issue a notice of loss reporting and cessation of payment, but generally speaking, it is not allowed to apply to the court for public notice, and the blank bill shall be declared invalid by an ex-rights judgment, because at this time the holder of the blank bill is invalid. People can no longer exercise the right to supplement. In the event of finding a blank bill and not returning it, the person who lost the blank bill has the right to file a lawsuit with the people's court.
The above is all about what a blank bill is and what effect a blank bill has. If you want to know the latest and most complete bill knowledge, you are welcome to continue to pay attention to us, thank you!