Flashcards: Introduction to Payment and Credit Instruments Law — 10 cartões

Todos os cartões

1Pergunta

Effects of commerce — features?

Resposta

Negotiable, formal, autonomous titles

2Pergunta

Effects commerce — definition?

Resposta

Negotiable titles evidencing monetary claims.

3Pergunta

Mandatory mentions — number?

Resposta

Eight mentions required

4Pergunta

Mandatory mentions — number?

Resposta

Eight legal mentions required.

5Pergunta

Nullity — cause?

Resposta

Omission or inaccuracy of mentions

6Pergunta

Nullity — causes?

Resposta

Missing or inaccurate mentions.

7Pergunta

Acceptance — role?

Resposta

Recognizes obligation; makes it irrevocable.

8Pergunta

Provision — definition?

Resposta

Monetary claim held against the drawee.

9Pergunta

Transmission of provision — how?

Resposta

Automatically through transfer of title.

10Pergunta

Effects of complaisance — meaning?

Resposta

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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