Key practical points:
• A negotiable instrument is an abstract written promise to pay a fixed sum, transferred by endorsement or delivery.
• A good-faith holder enjoys strong protection and can collect from those liable on the instrument.
• The legal form (mandatory particulars) must be met, or the instrument is void.
• Endorsement transfers the right and adds jointly liable guarantors of payment.
• On dishonour, recourse against endorsers and the drawer follows within time limits.
• Used in trade to defer payment and provide security, so verify an instrument's validity before accepting it.
💼 Contracts
Law on Negotiable Instruments · Yalla China
中华人民共和国票据法 / Law on Negotiable Instruments
📝 Overview
A law governing negotiable instruments: bills of exchange, promissory notes and cheques. It sets their form, endorsement, acceptance, payment and the rights of a good-faith holder.
This is general information only, not legal advice. For your specific case, consult a licensed lawyer.
📜 The law text / key provisions
🕒 Updated: 16 March 2026