Commercial paper control set of legal rules, called the Exchange Act. It is intended as private commercial securities legal system. Or is the legal rules stipulated by commercial and private law organized by the provisions of the securities business group. Or is a set of rules contained in the regulation of trade and containing the provisions of the establishment of commercial paper, circulation and guarantees fulfilled then meet them and what followed when refrain from fulfilling then aging it hard right.
The so-called commitment resulting from the signing of commercial paper morphological commitment can be defined as a separate formal commitment from other fixed commercial paper obligations and just about relationships that was the reason for its creation. These rules are based on principles intended to facilitate the commercial paper trading, and its function as a tool for fulfillment and credit, and the most important of these principles is the formalism and abstraction and independence of signatures and militancy on the debtor to fulfill the value of commercial paper. Vllaltazam morphological key attributes that are configurable commitment, and autonomous, and he is just a commitment and, finally, is characterized by harsh on the debtor care for pregnant goodwill.
These traits and characteristics are interrelated and overlapping with each other, making it difficult to distinguish one from the other, all of which are designed to protect pregnant goodwill of the defenses derived from beyond the text of the paper, which can affect the right circumstances. We will try to narrow your search to the idea of abstraction, Ventnol concept of abstraction and abstract legal act, then its applications in the field of commercial paper, and finally relationship abstraction of non-contradiction base