Law on bills of exchange

Due to the high formalism involved in issuing a bill of exchange, the specific nature of a bill of exchange obligation and the distinctiveness of claiming payment under this security, bill of exchange law is a complex and highly rigorous area of law in which there is no room for error. Indeed, the faulty filling of a promissory note may result in the loss of formal and substantive standing to pursue a claim in court and thus lead to the dismissal of the action. It is for these reasons that promissory note law is an area in which a small number of lawyers practice....

Obligation under the bill of exchange is always a written commitment. It establishes an unconditional obligation, independent of any other legal action, including contracts concluded. This means that it is an abstract obligation, for the validity of which it is irrelevant whether there was an obligation giving rise to the bill of exchange and whether it was valid. What is most relevant is only that a person affixed his or her signature to the promissory note, thereby incurring a promissory obligation. What was the cause and basis for this is not relevant.