Judicial Law Views Quarterly (Law Views)

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One of the common ways of transfer of commercial documents, ownership (bill of exchange, promissory notes and cheque) is endorsement. If the endorsement is subject to Commercial Code, it is considered a commercial endorsement. And if it is out of the scope of this Code, it should be regarded a normal and on the basis of request (claim) transfer. The question that arise here are “how long are the endorsements of commercial documents considered commercial and should its endorsement be considered ordinary or civil?”
Although Iran’s Commercial Code is silent on this issue, the Geneva and UNCITRAL conventions have explicitly or implicitly clarified the issue. The result of the study indicates that if the document is endorsed before due date or even after it and before making a protest or until the expiration of the protest, the endorsement should be considered commercial and subject to the rights and obligations set forth in the aforementioned Code and conventions; otherwise, he transfer is regarded normal and justified under the provisions of the Civil Code and the above-mentioned conventions.

 

Keywords: Commercial endorsement, Normal transfer, Commercial documents, Iran’s Commercial Code, Geneva and UNCITRAL conventions.

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