【文章內(nèi)容簡(jiǎn)介】 ty instrument. ② A twoparty instrument. ③ Where payable after date, a bill is generally accepted. ③ Never accepted. Bills of exchange Promissory notes ④ Where payable after sight, a bill must be presented for acceptance to fix the maturity date of the bill, and presentment for acceptance is necessary to render the prior parties liable. ④ Never accepted. However, according to the Uniform Law for Bills of Exchange and Promissory Notes of Geneva of 1930, a note can be made payable after sight, and such a note must be presented for visa of the maker. The visa date is used to fix the maturity date of the note. Bills of exchange Promissory notes ⑤ Can be accepted for honour. ⑤ Never accepted. ⑥ Can be drawn in a set. ⑥ One copy. ⑦ Foreign bills need protesting on dishonour to retain the liability of prior parties. ⑦ Protest is never needed. Bills of exchange Promissory notes ⑧ Before acceptance, the drawer is primarily liable for payment, but after acceptance the acceptor bees primarily liable for payment. ⑧ The maker is always the party liable primarily for payment. ⑨ Where there are two or more acceptors of a bill, the acceptors are always jointly liable. ⑨ Where there is more than one maker, they can be liable jointly or jointly and severally according to the terms of the note Check ? Definition of a Check ? Contents of a Check ? Features of a check ? Parties to a check ? Classification of Check ? Check Clearing ? A Banker?s Duty to Honor Checks ? Dishonor of Checks ? Difference between a Check and a Bill of Exchange ? 出票人簽發(fā)的，委托辦理支票存款業(yè)務(wù)的銀行或其他金融機(jī)構(gòu)在見(jiàn)票時(shí)無(wú)條件支付確定金額給持票人或收款人的票據(jù)。 A check is a bill of exchange drawn on a bank payable on demand。 A check is an unconditional order in writing, signed by the person giving it, requiring the bank to whom it is addressed to pay on demand a sum certain in money to, or to the order of , a specified person or to bearer. Definition of a check Check for New York, May 1,2021 Pay to the order of John Smith the sum of sixteen thousand US Dollars only. To: Bank of China, Beijing China For China National Art amp。 Craft Import amp。 Export Corp. Signature Contents of a Check ? (1) The word “check” ? (2) Unconditional ? (3) In writing ? (4) Drawer?s Signature ? (5) Place and date of issue. ? (6) Address of the paying bank. ? (7) A certain sum of money. ? (8) The name of the payer. Features of a check ? (1) A check must be unconditional. ? (2) A check must be drawn on a bank. ? (3) A sum certain in money must be written on a check, which should be signed by the drawer. ? (4) The date of a check is not essential in that it can be antedated, postdated or dated on a nonbusiness day. ? (5) The payee may be bearer, a specified person or his order. Parties to a check ? (1) The drawer. The person who makes out the check and keeps an account current in the paying bank. ? (2) The drawee. The banker on whom the check is drawn and to whom the order to pay is given. He is the banker with which the drawer maintains an account. ? (3) The collecting bank. The payee’s bank which collects/obtains payment for its customer from the paying bank— the drawer’s bank. ? (4) The paying bank where the drawer has an account Classification of Check ? Uncrossed check amp。 Crossed check a crossing is in effect an instruction by the drawer or holder to the paying bank to pay the fund to bank only instead of over the counter of the paying bank ? Traveler?s Check ? Certified checks ?A check is certified by the drawee bank. Once a check is certified by the drawee bank, all other obligors on the check will be discharged of the liability of the payment. Check Clearing The payee should deposit the check into his bank before he can obtain payments expressed in the check. This process from depositing a check to obtaining payments is known as check clearing. ? Collecting bank ? Paying bank ? Process of Check Clearing Payee Collecting Bank 2 Paying Bank 1 5 4 3 Process of Check Clearing A Banker?s Duty to Honor Checks ? The banker?s duty to honor the check ends: (1) On countermanding of payment by the customer (2) On receiving notice that the customer has died or dissolved。 (3) On receiving notice of bankruptcy or liquidation of the customer。 (4) On receiving order that is made against the customer。 (5) On receiving notice of mental disorder of the customer。 (6) On receiving a garni