The holder of a bill does not present for payment before the due of the bill. If the holder is refused payment, the prior party may be exempted from recourse.
举一反三
- The conditions for the holder to exercise the right of recourse are: the holder holds the qualified bill, and the holder is responsible and refused to pay.
- When the holder of the bill receives the payment of the bill, he shall return the signed bill to the drawer.
- If the holder fails to present the instrument within the prescribed time limit, the holder loses the right of recourse to the prior party.
- If a bill is a ( ) bill, the documents will be handed over against payment of the bill.
- According to the Negotiable Instruments Law of the People's Republic of China (2004 Revision)If a holder get the payment, the holder shall sign the bill of exchange and deliver the draft to the payer. If a holder has entrusted a bank for the collection, the bank entrusted shall transfer the amount of the bill of exchange collected into the account of the holder, which shall be regarded as the receipt signed.