Negotiable Instruments Law: Two Layers of Harmful Discrepancy

Research output: Chapter in Book/Conference paperChapterpeer-review


This chapter explores the lack of harmonisation in the substantive law of negotiable instruments amongst the civil law and common law systems, with further harmful discrepancy in the conflict of laws rules relating to negotiable instruments amongst those systems. Then, the chapter contemplates the reasons for such a two-stage discrepancy and makes a suggestion for the harmonisation reform. In a nutshell, the chapter argues that harmonisation efforts must take a different course. The lessons of experience suggest that. After gigantic unsuccessful efforts to unify the provisions of negotiable instruments law, a substantive unification does not seem to have a future. If negotiable instruments law remains and should remain (as the chapter argues) relevant in the advancing age of cross-border commerce and digitalisation, the efforts should be directed towards the unification of the conflict of laws rules applicable to negotiable instruments. In this way, negotiable instruments law would maintain its role as one of the legitimate methods of payment. A method that epitomises the non-discardable wisdom of centuries of self-reflection, internal balancing, and continuous improvement.
Original languageEnglish
Title of host publicationElgar Companion on the United Nations Commission on International Trade Law
EditorsRishi Gulati, Thomas John, Ben Kohler
PublisherEdward Elgar Publishing
Number of pages18
ISBN (Electronic)9781803924540
ISBN (Print)9781803924533
Publication statusPublished - 21 Nov 2023


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