Transactions of Negotiable Instruments in the Face of Bankruptcy

Document Type : Scientific Research

Authors

1 Assistant Professor, Department of Law, Payam Noor University, Tehran, Iran.

2 Professor of Private Law, Payame Noor University, Tehran, Iran.

Abstract

One of the documents used in business activities is negotiable instruments, (draft, promissory notes and checks). Transactions related to negotiable instruments have a contractual nature due to the voluntary nature of the legal act and the reciprocity of the contract. bankruptcy prohibits the trader from financial transactions, including negotiable instruments. But because of the special features of these According to the Commercial Code, bankrupt transactions have the right to terminate before the suspension in certain circumstances, from suspension to the issuance of the bankruptcy order, some transactions are void and after the issuance of the ruling, it is also prohibited. during these periods, what are the effects and approach of issuing, endorsing, guaranteeing checks, promissory notes, and accepting you according to special characteristics? If it is before the suspension, and is subject to the right of termination, what effect does it have on the obligations of these documents? What is the approach to the annulment of a bankrupt obligation from suspension to the issuance of a sentence if the obligation under the commercial document is in the form of a peace agreement, a gift or a gratuitous transaction, or for the purpose of paying a debt? What are the effects and approach of banning bankrupt transactions on these documents? The present study is responsible for examining the legal approach and the specific effects of bankruptcy in the mentioned periods in different assumptions regarding the obligations arising from negotiable instruments.

Keywords

Main Subjects

References

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