List of Articles commercial papers

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  1 - Theory of Extinction of Original Obligations by Signing Commercial Papers
  Alireza  Alipanah Somayeh  Ahmadi Majdabadi Farahani
  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 beco More

  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. Manuscript profile
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  2 - Fundamentals of “Principle of Unconditionality of Commercial Paper Obligations” in Iran’s Jurisprudence and Law
  Akram  Safiri Farzaneh  Karimi
  The role commercial papers play in transactions and economic relations is this that they are appropriate substitutes for cash in payments. Along with easy, fast and safe transfer and turn-over, they guarantee the rights of the owner as well. Realization of this will be More

  The role commercial papers play in transactions and economic relations is this that they are appropriate substitutes for cash in payments. Along with easy, fast and safe transfer and turn-over, they guarantee the rights of the owner as well. Realization of this will be possible when obligations of the signatories of the papers are expressed absolutely and clearly, not conditioned to anything else. The prerequisites calling for unconditionality of commercial papers are considered among the fundamentals of this principle, which we have studied in this paper in two sections of “legal requirements” (the need for using commercial papers instead of cash, the need for meeting speed, ease and security in carrying and transfer of commercial papers and the need for protecting the rights of the commercial paper owners) and “jurisprudential requirements” (exigency of protecting property and preventing disruption in economic system). Manuscript profile