The Characteristics of Bill of Documents in Legal Theories

For the commercial bill to be able to fulfill the two principles of speed and precision in transactions, it is necessary to have certain characteristics and be transformed from an affirmative proof (like common official papers) to moveable and moral property and be valid independent from basic transactions and relations. In this way, as the bill exists, it can’t be denied; it is valid and the validity is independent from basic relations. So, there is no doubt in the credit reflected in the bill and consequently, speed in commerce is gained. Some of the characteristics of commercial bills fulfilling these goals are: Bill operations being commercial, procedural and definitive; the principles of transferability of bills, joint and several responsibilities of signers of bill, sign independence, isolation of bill operations, unreliability of objections and the principle that liabilities arise from the bill.