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2014, vol. 52, iss. 7-9, pp. 391-407
Blank bill of exchange as security of consumer credits
University of Belgrade, Faculty of Law
Keywords: blank bill of exchange; credit user; consumer credit; recta clause; principle of good faith
Abstract
In this paper the author analyses the risks of signing a blank bill of exchange in order to obtain a consumer credit. First part of the paper focuses on the term and formation of a blank bill of exchange, which is of immense importance for the overview of its usage as a security in consumer credits. In the second part the author investigates how the abstract character of the bill of exchange influences the position of a person who guarantees for a consumer credit with a blank bill of exchange. The third and central part of the paper inspects the uncertainties which consumer credit user encounters by signing a blank bill of exchange f.e. the issue of unauthorized completion of the bill of exchange. Author suggest two solutions to prevent the problems - first, to insert a recta clause into a blank bill of change and second, to set a strict liability regime for the banks who complete the bill without authority. Both solutions are based on the principles of protection the financial services customer which are proclaimed in the Law on protection of financial services consumers.

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article language: Serbian
document type: unclassified
published in SCIndeks: 04/07/2016

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