3 Contents 1. Types of Securities (commercial papers) in the Czecli Law ............................ 5 2. Securities Classification .............................................................. 8 3. Bills of Exchange - Economic Importance ............................................ 11 4. Types of Bills of Exchange According to the Czech Law .............................. 12 5. History of Legal Regulation of Bill of Exchange....................................... 14 6. Czech Bill of Exchange Law as a Part of Geneva Bill of Exchange System............. 15 7. System of the Act ................................................................... 16 8. Consumer Credit and Bill of Exchange ............................................... 18 9. Participants of the Bills of Exchange ................................................. 19 10. Form of Bill of Exchange and Promissory Note ....................................... 22 11. Principle of Independence of Bill Statements ......................................... 24 12. Agency .............................................................................. 25 13. Ways of Transfer of Bill of Exchange and Promissory Note ........................... 26 14. Blank Instrument .................................................................... 27 15. Changes in Text of Bill of Exchange/Promissory Note ................................ 28 16. Requirements of Promissory Note .................................................... 29 17. Requirements of Bills of Exchange ................................................... 31 18. Acceptance of the Bill of Exchange ................................................... 37 19. Aval................................................................................. 38 20. Types of Transfer of Bills of Exchange ............................................... 41 21. Payment for the Bill of Exchange .................................................... 45 22. Protesting the Bill of Exchange ...................................................... 49 23. Bill Notification ..................................................................... 50 24. Recourse ............................................................................ 51 4 Bill of Exchange Law 25. Limitation ........................................................................... 54 26. Bills of Exchange with a Foreign Element ............................................ 55 27. Bill of Exchange and Cheque Act No. 191/1950 ("BECA") ........................... 60