Page 108 - Δημήτρης Λουκιδέλης - Μεταφράσεις Νομικών, Συμβολαιογραφικών & Δημοσίων Εγγράφων - Δείγματα Μεταφράσεων

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Δημήτρης Γ. Χριστοφιλόπουλος – Εισαγωγή στο Δίκαιο - ‘Αξιόγραφα’

A negotiable instrument lato sensu is the paper whereby a right is connected in a

way such that the bearing of the paper be necessary for the exercise of the right. An

instrument stricto sensu is a paper the bearing whereof is necessary not only for the
exercise but also for the transmission of the right. From this definition arises that

‘the elements of the concept of negotiable instrument is the paper, the right and their

connection in accordance with the principle of embodiment. Instruments are in
principle papers, that is, their oral conclusion is impossible. As a paper is conceived

as a rule the private document. By exception possible is also the conclusion of an
instrument by a public document. The documents are distinguished into the

following: (a) into evidentiary documents whereby there is intended merely the
facilitation of the probation of the right whereto the document pertains, b) into

constitutive documents, the drafting whereof is a requirement for the generation of

the right, c) into legitimation documents the connection whereof with the right is
such that for the acceptor to be discharged he shall have to pay to the bearer of the

document and d) into instruments with which the right is connected with the
document in a way such that the bearing of the document always constitutes the

substantial requirement for the exercise of the right.
The principal feature of the concept of the negotiable instrument is the embodiment

of the right into the document in such a way that their connection is undisturbed.

The right embodied in the paper may be obligational or in rem.
The embodiment of the right into the instrument has the following implications:

a) the bearing of the document is a necessary condition for the exercise of the right,

b) the bearing legitimates the creditor to petition fulfillment and releases the debtor
paying to the bearer of the document c) there is generated a dependence of the right

on the document and d) the right is determined by the text of the paper.

B. Distinctions of negotiable instruments

According to the mode of the determination of the person of the beneficiary,

instruments are divided into registered instruments, bearer instruments or instruments
to the bearer or instruments in bearer form and into instruments to order. Registered