DISTINCTIVE ELEMENTS OF CHEQUE PAYMENTS
Keywords:
payment instrument, cheque, provision, truncation.Abstract
Cheque related laws, which also describe its distinctive characteristics, existent in every law system, prove the fact that it is a handy instrument for the business environment and not only, being one of the most used payment instruments, together with the electronic ones.The study herein is intended to make an analysis of the full payment process, from the parties obligations at cheque issuance, its description, and the actual operation of the payment, to the legal means provided to the beneficiary of the cheque in order to recover the unsettled payment from the issuers or signatories of the bill. A short analysis of the regulations of the Civil Code concerning the law applicable to cheque payment will also be provided.
References
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