A Legal Study on the Partition Endorsement of Electronic Promissory Note
- A Legal Study on the Partition Endorsement of Electronic Promissory Note
- onic Promissory Note(EPN); ition endorsement; 전자어음; 실물어음; 전자어음법; 전자어음의 분할배서
- Issue Date
- VOL 21, NO 1, 227-247
- Recently around the world, millions of business people are using the internet without regards to the legal issues involved in electronic commerce. The Electronic Promissory Note (herein after EPN) is a typical of electronic bill using internet. The EPN was started at the very first in Korea to get rid of Paper Promissory Note (herein after PPN) and Korea Electronic Promissory Note Act was made on March 22, 2004.
The aim of EPN is to create a totally electronic environment for business and paperless negotiate Note. EPN is to replace the paper system of commercial transaction and documents by electronic equivalents.
Using EPN falls short of our expectations and Korea Electronic Promissory Note Act has some problem. So it is necessary for us to make good use of EPN that revise Act and introduction a partition endorsement of EPN. There are two ways to promote utilizing EPN which is able to discount on a bill and partition endorsement.
This paper studies focusing on the EPN"s partition endorsement about legal aspect and have to make or revise to the law relation to partition endorsement.
Firstly, we put a restriction the number of time EPN"s endorsement. Secondly, we make prohibit by law EPN"s a repartition endorsement and insert a sentence in the EPN"s restrictive endorsement. Finally, we put in good order the EPN act provision relating to a bill of dishonor and accept a bill.
Stipulation the provision regarding the issuance of EPN may not settle the EPN"s problem incompletely but very effective. The more we improve EPN and EPN act, The more we develop electronic commerce and business transaction.
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