国际结算练习答案.doc

1. Broad sense instruments always take three manners to transfer their ownership in circulating area namely (1) assignment (2) transfer (3) negotiation .2. What are the specific characteristics of negotiable instruments? The specific characteristics are as follows: (1) unconditional promise or order to pay (2) negotiability (3) requisite in form (4) non-causative (5)presentment and returnability3. Make choice of whether the following bills are acceptable or not. Mark before acceptable or un acceptable you choosed. (1) A bill shows: Pay to ABC Co. the sum of ten thousand US dollars on condition that shipment of goods has been made. It is ( ) acceptable/ ( x ) unacceptable (2) A bill shows: On demand pay to the order of ABC Co. the sum of twenty thousand US dollars drawn against shipment of 10 bales cotton piece goods from Tianjin to London. It is ( x ) acceptable/ ( ) unacceptable (3) A bill shows: Pay to ABC Co. out of proceeds of sale of woolen blankets the sum of one thousand US dollars. It is ( ) acceptable/ ( x ) unacceptable (4) A bill shows: After customs clearance pay to the order of ABC Co. the sum of twenty thousand US dollars. It is ( ) acceptable/ ( x ) unacceptable (5) A bill shows: Pay to Mary the sum of fifty pounds and give her a suit of clothes. It is ( ) acceptable/ ( x ) unacceptable4. (1) The maturity of one month after 31 Jan. is ( 28 Feb./29 Feb. ). (2) The maturity of two months after 28 Feb. is ( 28 April ). (3) The maturity of 180 days after 4 April is ( 1st Oct. ).5. The party who draws and deliver the bill is called ( drawer ). The party on whom a bill is drawn but has not accepted it is called drawee . The drawee agrees to pay on the due date and signs the bill expressing his agreement, he is called ( acceptor ). The party in whose favour the drawer directs payment to be made is called ( payee ). The party who endorses the bill and delivers it is called ( endorser ). The party to whom an endorser endorses the bill is called ( endorsee ). The person who transfers his possession of a bill to another is called ( transferor ). The person to whom the bill is transferred is called ( transferee ). Payment of a bill may be guaranteed by a third person who is called ( guaranter ). A ( holder ) means the payee or endorsee of a bill who is in possession of it, or the bearer thereof. A ( holder for value ) is any holder whether he gave value or not, providing some previous holder gave value, but now he is a holder. A ( holder in due course ) is a holder who has taken a bill with complete and regular items on the face under the following conditions.6. Please discriminate who is (holder in due course) / (holder for value) / holder / others from the following flowchart by marking before the selected terms. Drawer payee the first transferee the second transferee Bill bill as gift negotiated to D P C E Goods clothes A (drawee / acceptor ) C is a ( ) holder in due course / ( x ) holder for value / ( )holder. If C negotiates the bill to E, E is a ( x ) holder in due course / ( ) holder for value / ( ) holder. If the bill is unpaid by A, E ( x ) may / ( ) may not claim from C. E ( x ) may / ( ) may not claim from P. E ( x ) may / ( ) may not claim from D. C ( ) may / ( x ) may not claim from P. C ( x ) may / ( ) may not claim from D. P ( x ) may / ( ) may not claim from D. Es title ( x ) is / ( ) isnt superior to Cs. Es title ( x ) is / ( ) isnt superior to Ps. Cs title ( ) is / ( x ) isnt superior to Ps.7. The holder may exercise his right of recourse only when he has completed the following procedures: (1) ( Present ) the bill to drawee for acceptance and / or payment, and it is dishonoured by non-acceptance / non-payment. (2) Give ( notice of dishonour ) to his prior party in one business day following the day of dishonour. (3) Make a ( protest ) for non-acceptance or non-payment one business day following the day of dishonour.8. With regard to crossing cheque (1) A holder of an open cheque (uncrossed cheque ) may receive payment by cash through presenting it at the counter of paying bank. ( x ) Yes / ( ) No (2) A holder of a crossed cheque wants to get payment by cash through presentment it at the counter of paying bank. ( ) Yes / ( x ) No (3) When a cheque crossed generally is presented through clearing house to paying banker, he must pay it ( ) by cash to the holder. ( x ) by book entries to holders account with collecting banker. (4) When a cheque crossed specially is presented through clearing house to paying banker, he must pay it ( ) by cash to the holder. ( ) by book entries to holders account with collecting banker.( x ) by book entries to holders account of the banker to whom it is crossed. (5) Who are entitled to cross a cheque?( ) drawee ( ) acceptor ( x ) drawer ( x ) holder ( x ) collecting banker ( ) endorser( x ) the banker to whom a cheque is crossed9. Please fill up the following blank spaces to complete some of the actions of instruments i.e. acceptance, aval , endorsements. (1) Acceptance: 20 June, 200x, to mature (date) , payable at Lloyds Bank Ltd., London, name of drawee and place, signature. (2) Aval: for account of Laurance Importing Co., London, Lloyds Bank Ltd., London, signature. (3) Blank Endorsement: For name of 1st holder, place, signature.(2) Per AvalFor account of Laurance Importing, Co., London(1) Accepted 20 June, 200x to mature 19 Aug. 200xExchange for GBP 12,500.00 Tianjing, 15 June 200xLloyds Bank Ltd., LondonPayable at Lloyds Bank Ltd., London At 60 days sight pay to the order of ourselves the sum of poundsSignaturefor Laurance Importing Co.,