ActsofBillofExchange导论.pptVIP

?1) Issue（出票） – To issue a draft = To draw a B/E – Act of issue comprises two acts to be performed by the drawer. One act is to draw and sign a draft, the other is to deliver it to the payee. Acts of Bill of Exchange Drawer Payee Draw and sign Delivery ? 2) Endorsement （背书） Endorsement is the signature of the endorser made on the back of bill of exchange. – The aim of the endorsement is to transfer the draft from one person to another. – Endorsement comprises two acts. One is to sign on the back of the draft, the other is to deliver it to the endorsee. – Must be made for the whole amount of the draft, and an endorsement for a partial amount will be considered as invalid endorsement. Acts of Bill of Exchange ? Four types of endorsement – ① Blank endorsement: an endorsement in blank is one that shows an endorser’s signature only and specifies no endorsee. ? It is also called a general endorsement. A draft so endorsed becomes payable to bearer. – For example Acts of Bill of Exchange For A Co., London (the endorser) Signature (of the endorser) ? Four types of endorsement – ② Special endorsement: A special endorsement is one that specifies an endorsee to whom or to whose order the draft is to be paid, in addition to the signature of an endorser. – For example Acts of Bill of Exchange Pay to the order of B Co., London (the endorsee) For A Co., London (the endorser) Signature (of the endorser) – ③ Restrictive endorsement: An endorsement is restrictive when it prohibits further transfer of the draft. Acts of Bill of Exchange Pay to ABC Bank only (the endorsee) For A Co., London (the endorser) Signature (of the endorser ) Pay to ABC Bank not negotiable (the endorsee) For A Co., London (the endorser) Signature (of the endorser) ) Pay to ABC Bank not transferable (the endorsee) For A Co,. London (the endorser) Signature (of the endorser)