Legal Subjectivity:

How the Negotiable Instruments Law stipulates the promissory note. The promissory note is a written unconditional promise to pay, made by one person and handed over to another person. The signature of the bearer promises to pay a certain amount of money to a specific person or his designee or person, immediately or regularly or at a determinable future time. The definition of promissory note in my country's "Negotiable Instruments Law" refers to a bank promissory note, which refers to a note issued by the bearer and promises to unconditionally pay a certain amount to the payee or holder when the note is presented. The Foreign Instruments Act allows businesses and individuals to issue promissory notes, called general promissory notes. However, all cashier's checks used in international trade are bank cashier's checks. Cashier's checks are all at sight. Generally a promissory note may be demand or usance. In the narrow sense, foreign exchange promissory notes only refer to bank promissory notes, excluding commercial promissory notes and personal promissory notes. The drawer of a promissory note must have a reliable source of funds to pay the amount of the promissory note and guarantee payment. Characteristics (1) The promissory note is a type of instrument and has the unique properties of all instruments, including non-cause securities, rights-based securities, literal securities, required securities, monetary debt securities, negotiable securities, etc. (2) A promissory note is a self-paying security. It is an instrument that the drawer pays to the payee himself and assumes absolute liability for payment. This is the most important difference between a cashier's check, a money order, and a check. In the legal relationship of a promissory note, the basic parties are the drawer and the payee, and the creditor-debtor relationship is relatively simple. (3) No acceptance required. There are many ways in which a promissory note may be subject to the bill of exchange legal system. However, since the drawer of the promissory note bears the payment responsibility himself and does not need to entrust others to pay, the promissory note does not need to be accepted to ensure payment. There are various ways to classify types of promissory notes. Depending on the issuer, they can be divided into commercial promissory notes (also called "general promissory notes") and bank promissory notes; according to different payment times, they can be divided into sight promissory notes and Usance promissory notes; according to whether there is a record of the payee, they can be divided into registered promissory notes and bearer promissory notes; according to the different ways of recording the amount, they can be divided into fixed-amount promissory notes and unfixed-amount promissory notes; according to the payment method Different, it can be divided into cash promissory note and transfer promissory note. General promissory note The drawee of a general promissory note is a company or individual. The bill can be a sight promissory note or a usance promissory note. Cashier's Check Cashier's Check: The drawer is a bank, and it can only be a cashier's check at sight. Legal objectivity:

Article 14 of my country’s Negotiable Instruments Law stipulates: “The matters recorded on the instrument shall be true and shall not be forged or altered. Anyone who forges or alters the signature, seal and other recorded matters on the instrument shall Should bear legal responsibility. If there is a forged or altered signature on the bill, it will not affect the validity of other authentic signatures on the bill. "Article 32 stipulates: "For a bill transferred by endorsement, the subsequent party shall directly endorse it. Responsible for authenticity. The last finger is the other debtor who signs the bill after the signer. "The above provisions reflect the legal effect of forged bills. (1) Effect on the person being forged. If the person impersonated by the forger of a bill actually exists, the issue of effectiveness on the person being forged will arise. The bill is a literal security. The person being forged did not sign or seal the bill, nor did he authorize the forger to sign on the bill on his or her behalf. According to the signature rules, a person who does not sign a bill is not liable for the bill. Therefore, the person whose signature is forged is not liable for the instrument. (2) Validity against the forger The forger does not forge signatures in his own name, and his signature does not appear on the bill, so his forged bill or signature is invalid, and the forger is not responsible for the bill. However, Articles 103, 104, and 107 of my country’s Negotiable Instruments Law respectively stipulate the criminal liability, administrative liability, civil liability, etc. that should be borne by the wrongdoer who forges instruments. The Criminal Law also provides specific provisions on the crime of counterfeiting securities. It should be noted that liability for bills and liability for forged bills are two different things. (3) Validity of direct and subsequent endorsers of forged endorsements In the circulation of instruments, it is difficult for indirect parties to know whether other people's signatures are authentic or forged, but direct parties should know. In order to ensure the safety of the circulation of bills, the second endorser should be responsible for the authenticity of the endorsement directly made by the first endorser. The second endorser has the responsibility to ensure that the signature and seal of the first endorser is authentic and not forged. Otherwise, corresponding civil liability shall be borne. (4) Validity to other genuine signers There are both forged signatures and genuine signatures on the bill. According to the independence and literal meaning of the bill's act, the invalidity of one act does not affect the validity of other acts. The authentic signature Anyone who writes the bill shall bear the liability for the bill and shall have the obligation to guarantee the realization of the rights of his successor. (5) Effect on the holder For a bill with a forged signature, the holder cannot fully enjoy the rights of the bill. Especially when the real obligee of the instrument claims the right to recover the instrument, the holder must hand over the instrument in his possession. Of course, he has the right to pursue the claim against the forger. However, if the person who forged the instrument is the person who forged the instrument, the holder of the instrument must People can only claim compensation from the forger in accordance with the principles of civil law. (6) The payer has the obligation to examine the validity of the bill. If the payer cannot discover that the bill has been forged or cannot in fact know that the bill has been forged according to the text of the bill and the continuity of the bill endorsement, its payment constitutes a valid payment in good faith, and its liability to pay the bill is therefore exempted. However, if the payer fails to perform the review obligation or has gross negligence when performing the obligation, which constitutes an improper payment, the real obligee of the bill has the right to request payment again. The payer has the right to request the person who paid the ticket for the first time to repay the loss suffered. After the repayment is made, the payer can pursue the repayment from the forger until the forger bears the loss.