Post by account_disabled on Dec 13, 2023 2:38:07 GMT -8
The person who demands the return of the bill of exchange amount by way of recourse is called the regredient and the debtor is called the regressant. remitent.jpg Who is a remitter? As already mentioned above the issuer is the recipient of the bill of exchange its first creditor. This is the person on whose order or possibly to whose benefit the bill of exchange is to be paid. As a rule he is a creditor but he may also become a debtor of a bill of exchange if he decides to transfer the rights arising from the bill of exchange to someone else.
The endorser then acts as an endorser. The issuer has the right to supplement the bill of exchange and at the same time is obliged to notify issuers and defaulters of this fact before the payment deadline. He also has the right to set an additional day deadline Email Marketing List for redeeming the bill of exchange sell the rights to the bill of exchange or endorse it. If the bill of exchange is not repaid the issuer has the right to claim payment in court.
Basic classifications of bills of exchange There are two basic classifications of bills of exchange. The first one divides bills of exchange according to the debtor this division distinguishes bills of exchange own simple in their case the person repaying the bill of exchange obligation is the issuer of the bill of exchange routed drawn in their case the debtor is the drawee i.e. a person which the drawee instructs to settle the bill of exchange obligation; if he is unable to pay the bill of exchange amount the drawee the person issuing the bill of exchange is liable for his debt.