MODERN USE OF THE BILL OF EXCHANGE IN THE IMPLEMENTATION OF COLLATERAL CIVIL TRANSACTIONS
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Abstract
With the evolving commodity-money relations the bill of exchange has gradually become a universal credit-settlement instrument in different transactions (purchase and sale, secured, etc.). Alongside with that, in the XXI century the market of bills of exchange started to be used both for virtual transactions and for the transactions not directly related to the receipt of concrete monetary funds and even for the pursuit of the activities under a ban. The article discusses the usage of the bill of exchange in business and the established banking practice. Being a security the bill of exchange has become the object of the contemporary practice of the bills of exchange application for civil transactions. The author also analyses the court practice.
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bill, bill terminal, bill trade system, defective bill
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