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Universul Juridic magazin

Certain issues regarding the enforcement of bill of exchange or of the promissory note

This article deals with certain practical issues arising from the enforcement of the debt securities, especially the bill of exchange and the promissory note. It is acknowledged the difficulty of the practical issues, which arise from the matter of enforcement of bills of exchange. In many cases, in practice, the appeals against enforcement involve both issues related to the law of exchange, and issues on enforcement. The parallelism between the matters on enforcement regulated by the new Code of Civil Procedure and the special laws in the matter of law of exchange often leads to terminology-related confusions, false analogiesand non-unitary practice. Some proposals are submitted for the purpose ofsolving problems of judicial practice regarding the obligation of an order for the bill of exchange, provided by Law no. 58/1934, the form which it has to adopt, the legal nature of the 3 year deadline during which the bill of exchange/ promissory note issued in blank have to be filled in, as well as the possibility to extend it by conventional means, and the stamp duty due for the special appeal against enforcement, provided by the Law for bills of exchange and promissory notes, depending on its subject matter and on the pleas of bills of exchange invoked by these special means. Finally, de lege ferenda proposals are made in relation to the stamp duties in the matter of appeal against enforcement expressly provided by Law for bills of exchange and promissory notes.