Mendeley TY _ JOUR ID - 27 TI - Theory of Extinction of Original Obligations by Signing Commercial Papers JO - Jurisprudence and Private Law JA - ES LA - fa SN - 2645-355X AU - Alipanah Alireza AU - Ahmadi Majdabadi Farahani Somayeh AD - دانشگاه شهید بهشتی AD - دانشگاه شهید مطهری Y1 - 2020 PY - 2020 VL - 1 IS - SP - 49 EP - 64 KW - shift of obligation KW - obligation per se KW - extinction of obligation KW - commercial papers KW - original obligations. DO - N2 - The issuance and delivery of commercial papers do not mean fulfilment of payments or extinction of previous obligations; rather, it is with the hand-over of the commercial papers that both obligations under the commercial papers are met and the original obligations become extinct. Although commercial papers bear obligation per se, until before payments for commercial papers are made, the criterion for action will be original obligations. There is, of course, difference of opinion among jurists on this rule, while it has been confirmed in the majority of the legal systems. However, there is another theory stipulating that issuing a commercial paper and handing it over to the creditor suffices for extinction of original obligations. The proponents of this theory believe in the “substitution of commercial papers”. Although they accept the fact that a commercial paper means ‘commitment to pay’ not ‘payment per se’, they believe that the obligation coming from the commercial paper shall be replaced with the original obligation, suggesting that somehow a shift of obligation takes place. UR - rimag.ir/en/Article/16471 L1 - rimag.ir/en/Article/Download/16471 ER -