Flashcard: Introduction to Payment and Credit Instruments Law — 10 carte

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1Domanda

Effects of commerce — features?

Risposta

Negotiable, formal, autonomous titles

2Domanda

Effects commerce — definition?

Risposta

Negotiable titles evidencing monetary claims.

3Domanda

Mandatory mentions — number?

Risposta

Eight mentions required

4Domanda

Mandatory mentions — number?

Risposta

Eight legal mentions required.

5Domanda

Nullity — cause?

Risposta

Omission or inaccuracy of mentions

6Domanda

Nullity — causes?

Risposta

Missing or inaccurate mentions.

7Domanda

Acceptance — role?

Risposta

Recognizes obligation; makes it irrevocable.

8Domanda

Provision — definition?

Risposta

Monetary claim held against the drawee.

9Domanda

Transmission of provision — how?

Risposta

Automatically through transfer of title.

10Domanda

Effects of complaisance — meaning?

Risposta

Fictitious titles created to deceive.

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1. What are the key features that define an 'effect of commerce' in payment and credit instruments law?

2. What are the three main features of 'effects of commerce' as described in the revision sheet?

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