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Oxford Law Citator
Contents
Expand All
Collapse All
Preliminary Material
General Editors’ Foreword
Preface
Table of Contents
Table of Cases
Australia
Canada
Singapore
South Africa
United Kingdom
United States of America
Table of Legislation
United Kingdom Statutes
United Kingdom Statutory Instruments
Other Legislation and Related Material
Australia
Canada
China
France
Germany
India
Israel
Italy
Japan
SouthAfrica
SriLanka
Switzerland
United States of America
European Regulations
International Instruments
List of Abbreviations
Main Text
Introduction
0.01
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.10
0.11
0.12
0.13
0.14
0.15
0.16
0.17
I Negotiability, Negotiable Instruments, and the Law of Bills, Notes, and Cheques
Preliminary Material
A The Nature of the Negotiable Instrument
1.01
1.02
1.03
1.04
1.05
1.06
1.07
1.08
1.09
1.10
1.11
1.12
1.13
1.14
1.15
1.16
B Brief History of Codification: Domestic Statutes and International Conventions
1.17
1.18
1.19
1.20
1.21
1.22
1.23
1.24
1.25
1.26
1.27
C Bills, Notes, and Cheques and Their Respective Uses: Negotiable Instruments Covered by Legislation
1.28
1.29
1.30
1.31
1.32
1.33
1.34
D Laws of Bills and Notes: Major Substantive Differences
1.35
1.36
1.37
1.38
1.39
1.40
E Laws of Cheques: Major Substantive Differences
1.41
1.42
1.43
1.44
1.45
1.46
F Conclusion
1.47
II General Law and Negotiable Instruments: A Brief Historical Perspective
Preliminary Material
A Introductory Note
2.01
2.02
2.03
2.04
B Nascent Cheque Law Without Cheques Under the Talmud
2.05
2.06
2.07
2.08
2.09
2.10
2.11
2.12
2.13
2.14
C Bill Forerunner: Islamic Hawale in the Early Middle Ages
2.15
2.16
2.17
2.18
2.19
2.20
2.21
2.22
2.23
2.24
2.25
2.26
2.27
2.28
D Continental Medieval Cheques and Bills of Exchange and Roman Law
1 The Payment Order and its Execution Under Roman Law
2.29
2.30
2.31
2.32
2.33
2.34
2.35
2 The Medieval Cheque
2.36
2.37
2.38
2.39
2.40
2.41
3 The Medieval Bill of Exchange
2.42
2.43
2.44
2.45
2.46
2.47
2.48
2.49
E Forerunners of the Promissory Note
1 Introductory Note
2.50
2 Tablets, Chirographs, and Syngraphs Outside Roman Law
2.51
2.52
2.53
3 The Documentary Debt Under the Talmud
2.54
2.55
4 The English Bond: Debt on an ‘Obligation’
2.56
2.57
2.58
2.59
F Bills, Notes, and Cheques in Post-Medieval England: The Origins of the Modern Law of Negotiable Instruments
1 The ‘Reception’ of the Bill of Exchange in England— The Myth of the ‘Law Merchant’
2.60
2.61
2.62
2.63
2.64
2.65
2.66
2.67
2.68
2.69
2.70
2 The Emergence of Notes and Cheques in England
2.71
2.72
2.73
2.74
3 Bills, Notes, and Cheques Acquire Negotiability
(a) Introduction
2.75
(b) Negotiation of Bills Payable to Order
2.76
2.77
2.78
(c) Negotiation of Notes Payable to Order
2.79
2.80
2.81
(d) Negotiation of Instruments Payable to the Bearer
2.82
(e) Negotiation of Cheques
2.83
2.84
2.85
(f) Material Negotiability
2.86
2.87
2.88
2.89
2.90
2.91
2.92
2.93
G Final Observations
2.94
2.95
III Choice-of-Law Question, Three Major Developments, and the Need for Harmonization
Preliminary Material
3.01
3.02
3.03
A What Choice-of-Law is: ‘Foreign Element’, Rejection of Lex-Fori, and Connecting Factors Approach
3.04
3.05
3.06
3.07
3.08
3.09
3.10
3.11
3.12
3.13
B Three Trends: Classification of Choice-of-Law, Party Autonomy and Most Significant Relationship Principles
1 Classification of Choice-of-Law Cases According to the Presence of a Foreign Element
3.14
3.15
3.16
3.17
3.18
3.19
3.20
3.21
2 Party Autonomy: Beale’s Challenge and Party Autonomy Triumph
(a) Party Autonomy and Beale’s Challenge
3.22
3.23
3.24
3.25
(b) Beale’s Choice-of-Law Approach and His Objection to Party Autonomy
3.26
3.27
3.28
(c) The Criticism and the Triumph of Party Autonomy
3.29
3.30
3.31
3.32
3.33
3.34
3.35
3 The Advances of the MSR Principle
(a) The Nature of the MSR Principle and Its Centrality Within Contemporary Choice-of-Law Frameworks
3.36
3.37
3.38
3.39
3.40
3.41
3.42
3.43
3.44
3.45
3.46
3.47
3.48
(b) The Over-Flexibility Charge
3.49
3.50
3.51
3.52
3.53
3.54
3.55
3.56
3.57
3.58
C The Need for Choice-of-Law Harmonization in Rules relating to Negotiable Instruments
3.59
3.60
3.61
3.62
3.63
3.64
IV Negotiable Instruments Choice-of-Law Rules in the Various Systems
Preliminary Material
A Introduction
4.01
4.02
4.03
4.04
4.05
B Single or Several Laws?
4.06
4.07
4.08
4.09
4.10
4.11
4.12
4.13
4.14
4.15
4.16
4.17
4.18
4.19
4.20
C Law Governing Intrinsic Validity or Effects of Obligations
4.21
4.22
4.23
4.24
4.25
4.26
4.27
4.28
4.29
4.30
4.31
4.32
4.33
4.34
4.35
4.36
4.37
4.38
4.39
4.40
4.41
4.42
4.43
4.44
4.45
4.46
4.47
4.48
4.49
4.50
4.51
4.52
4.53
4.54
4.55
4.56
4.57
4.58
4.59
4.60
4.61
4.62
D The Scope of Intrinsic Validity: Specific Issues
4.63
4.64
4.65
4.66
4.67
4.68
4.69
4.70
4.71
4.72
4.73
4.74
4.75
4.76
4.77
4.78
4.79
4.80
4.81
4.82
E Law Governing Extrinsic Validity (Form)
4.83
4.84
4.85
4.86
4.87
4.88
4.89
4.90
4.91
4.92
4.93
4.94
4.95
4.96
4.97
4.98
4.99
4.100
4.101
F Laws Governing Specific Cheque Topics
4.102
4.103
4.104
4.105
4.106
G Transfer, Negotiation, and Assignment
4.107
4.108
4.109
4.110
4.111
4.112
4.113
4.114
4.115
H Formalities and Other Performance Duties
4.116
4.117
4.118
4.119
4.120
4.121
4.122
4.123
4.124
4.125
4.126
4.127
4.128
4.129
4.130
4.131
4.132
4.133
4.134
4.135
4.136
4.137
4.138
4.139
4.140
4.141
4.142
4.143
I Conclusion
4.144
4.145
4.146
V The Foreign Element and Party Autonomy in Negotiable Instruments Law
Preliminary Material
5.01
A The ‘Foreign Element’ in Negotiable Instruments
5.02
5.03
5.04
5.05
1 The Scope of Choice-of-Law Analysis Set in s 72 of the UK BEA
5.06
(a) Four Prescribed Territorial Factors
5.07
5.08
5.09
(b) The Language of s 72 Excludes an Entirely Foreign Situation
5.10
5.11
5.12
5.13
5.14
5.15
5.16
5.17
2 Foreign Negotiable Instruments versus Domestic Negotiable Instruments
5.18
5.19
5.20
5.21
5.22
5.23
5.24
(a) Implication I: The Application of Lex-Fori on Bills Indorsed Abroad Under s 72(2)
5.25
5.26
5.27
5.28
5.29
5.30
5.31
(b) Implication II: The Protest Requirement on Foreign Bills Under s 51
5.32
5.33
5.34
5.35
5.36
5.37
5.38
5.39
5.40
5.41
(c) The Origins of the Distinction
5.42
5.43
5.44
5.45
5.46
5.47
5.48
5.49
B Party Autonomy Principle as a Governing Principle of Choice-of-Law Cases of Negotiable Instruments
1 Preliminary Remarks: Four Justifications
5.50
(a) Market Stability and Predictability Promotion
5.51
5.52
5.53
5.54
5.55
(b) The Consistency with the General Spirit of Party Autonomy Within Negotiable Instruments Law
5.56
5.57
5.58
5.59
5.60
(c) Party Autonomy in the Context of Parties’ Rights and Duties
5.61
5.62
5.63
5.64
(d) The Consistency with the Historical and Intellectual Development of Negotiable Instruments Law
5.65
5.66
5.67
5.68
5.69
5.70
2 Party Autonomy in Negotiable Instruments Literature
5.71
(a) The Possibility of Party Autonomy in Chalmers
5.72
5.73
5.74
5.75
5.76
(b) The Possibility of Party Autonomy in Dicey and Morris
5.77
5.78
5.79
5.80
3 The Scope of Party Autonomy: A Proposal
5.81
5.82
5.83
5.84
5.85
5.86
5.87
5.88
5.89
5.90
5.91
5.92
5.93
5.94
5.95
5.96
5.97
5.98
5.99
5.100
VI Choice-of-Law Rules in the Absence of Party Autonomy: The Most Significant Relationship Principle
Preliminary Material
6.01
6.02
6.03
A The Extension of the MSR Principle to Negotiable Instruments Law
6.04
6.05
6.06
1 Assessing Objection 1: Inconsistency with Existing Law and Case Law
(a) Inconsistency with Contemporary Choice-of-Law Frameworks
6.07
6.08
6.09
(b) Inconsistency with Case Law
6.10
6.11
6.12
6.13
6.14
6.15
6.16
6.17
6.18
6.19
6.20
6.21
6.22
6.23
6.24
6.25
6.26
6.27
6.28
6.29
6.30
6.31
6.32
6.33
2 Assessing Objection 2: Challenging the ‘Predictability and Certainty’ Thesis
6.34
(a) The ‘Clear-Cut Rules Thesis’ and the Return of Beale’s Rhetoric in the Provisions (and Commentaries) of the Second Restatement
6.35
6.36
6.37
6.38
6.39
6.40
6.41
(b) Challenging the Clear-Cut Rules Thesis
6.42
6.43
(i) The Values of Certainty and Predictability as the Only Two Underlying Values of Negotiable Instruments Law
6.44
6.45
(ii) The Complete Correlation Between the Underlying Goals of a Given Legal Category and the Choice-of- Law Process
6.46
6.47
6.48
6.49
(iii) The Application of ‘C lear-C ut’ Rules to the Context of Negotiable Instruments Law Enhances the Values of Certainty and Predictability
6.50
6.51
6.52
6.53
6.54
(iv) Placing Negotiable Instruments Law in the Same Camp as Immovable Property Law
6.55
6.56
6.57
6.58
6.59
6.60
6.61
B The Operational Mechanics of the MSR Principle
1 Pre-Built Presumptions
6.62
(a) The Presumption for the Category of Contract Law: Place of Contractual Performance
6.63
6.64
6.65
6.66
6.67
6.68
(b) The Presumptions in the Movable Property Category: The Place of Property
6.69
6.70
6.71
6.72
6.73
6.74
6.75
6.76
6.77
2 Built-In Presumptions for Negotiable Instruments Law
(a) Presumption for Obligations of the Primary Parties
6.78
6.79
6.80
6.81
6.82
6.83
6.84
6.85
6.86
6.87
6.88
6.89
6.90
(b) Presumption for Obligations of the Secondary Parties
(i) The Delineation from the Primary Parties
6.91
6.92
6.93
6.94
6.95
6.96
6.97
(ii) Potential Reference to Laws of Suretyship and Assignments
6.98
6.99
6.100
6.101
6.102
6.103
6.104
6.105
6.106
6.107
6.108
6.109
(c) The Suggested Point of Departure: Holder’s Location
6.110
6.111
6.112
6.113
6.114
6.115
6.116
6.117
6.118
6.119
6.120
VII The Boundaries of the Proposed Argument
Preliminary Material
7.01
A Challenging the Validation Principle
1 Form, Capacity, and Illegality as ‘Particular Issues’
7.02
7.03
7.04
7.05
7.06
7.07
7.08
2 General Contract Law: Special Rules for the ‘Particular Issues’
7.09
7.10
7.11
7.12
7.13
7.14
3 The Underlying Basis for the ‘Particular Issues’—the Validation Principle
7.15
7.16
7.17
7.18
4 Reconsidering the Validation Principle
7.19
7.20
7.21
7.22
7.23
7.24
7.25
7.26
7.27
7.28
7.29
B The Various Aspects of Negotiable Instruments Law: The Broad Scope of the Argument
7.30
1 Holder’s Duties
7.31
7.32
7.33
2 Remedies and Limitation Periods
7.34
3 Proprietary Aspects
7.35
7.36
7.37
7.38
7.39
7.40
7.41
C Securities and the Documents of Title
1 Documents of Title
(a) Bills of Lading and the Liability Limitation Trend
7.42
7.43
7.44
7.45
7.46
7.47
7.48
7.49
7.50
(b) Bills of Lading and the Choice-of-Law Question
7.51
7.52
7.53
7.54
7.55
7.56
7.57
7.58
7.59
7.60
7.61
7.62
7.63
7.64
2 Securities
7.65
7.66
(a) The Choice-of-Law Rules in Relation to Securities
7.67
7.68
7.69
7.70
(b) The Traditional Division between Internal and External Aspects of Corporations and the Transfer of Shares
7.71
7.72
7.73
7.74
7.75
7.76
7.77
7.78
(c) The Indirect Holding Example and the Legislative Reforms
7.79
7.80
7.81
7.82
7.83
7.84
7.85
7.86
7.87
7.88
D The Ethical Moment
7.89
7.90
7.91
7.92
7.93
7.94
7.95
7.96
7.97
VIII International Negotiable Instruments in the Electronic Age
Preliminary Material
A Introduction: Writing, Signature, Delivery, and Presentment Requirements
8.01
8.02
8.03
8.04
8.05
8.06
8.07
8.08
8.09
8.10
8.11
8.12
8.13
B Is ‘Electronification’ Feasible or Desirable?
8.14
8.15
8.16
8.17
C ‘Electronification’: Current Steps
8.18
8.19
8.20
8.21
8.22
8.23
8.24
8.25
8.26
8.27
8.28
8.29
D ‘Electronification’: An Overall Framework
8.30
8.31
8.32
8.33
8.34
8.35
8.36
8.37
8.38
8.39
8.40
8.41
8.42
8.43
8.44
8.45
E Choice-of-Law Rules for Electronic Negotiable Instruments
8.46
8.47
1 Digitalization and Existing Frameworks of the Choice-of-Law Rules
8.48
8.49
8.50
8.51
8.52
8.53
8.54
8.55
8.56
2 Digitalization and a Suggested Framework of the Choice-of-Law Rules
8.57
8.58
8.59
8.60
8.61
8.62
8.63
8.64
8.65
8.66
8.67
IX Conclusion
9.01
9.02
9.03
9.04
9.05
9.06
9.07
9.08
9.09
Further Material
Appendix A ‘Radical Overhaul’
The Suggested Framework of the Choice-of-Law Rules Relating to Negotiable Instruments (Chapters V–VIII)
Index
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Table of Cases
From:
International Negotiable Instruments
Benjamin Geva, Sagi Peari
Content type:
Book content
Product:
International Commercial Arbitration [ICMA]
Series:
Oxford Private International Law Series
Published in print:
10 December 2020
ISBN:
9780198828686
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