Bills of exchange and promissory notes – comparative perspective

his paper presents the legal system for the bills of exchange and promissory notes, and also the similarities and differences between the bills of exchange and promissory notes in the Romanian law and private international law. This article analyzed: procedures for issuing bills of exchange and promissory notes, the essential terms must include bills of exchange and promissory notes, rights and obligations arising from document exchange and the promissory notes, transmission of bills of exchange and promissory note, presentation of bills of exchange and promissory notes for payment in the original or truncation (in electronic format), the law applicable to bills of exchange and promissory notes in international trade law. This article investigates and rules in the new Romanian Civil Code of the aspects of private international law on bills of exchange and promissory notes. The conclusions of this article emphasizes the particular usefulness of these debt securities for the contemporary market economy. The institutionalization of this debt securities circulation represents one of the most important contributions of the commercial law to the progress of modern commercial activity.