Legal Problems on the Revocation on Cheque of the Clearing House

Abstract

The purposes of this research were as follows: 1) to conduct a comparative study Criteria for revocation on cheques according to the United States Uniform Commercial Code and the Bills of Exchange Act 1882 of England and the Law on Bills and Law on cheques of Japan 2000; 2) to analyze problems that may arise from revocation on cheques in accordance with the standard of some clearing house that the bank should not refuse to pay according to cheques; and 3) to propose solutions and find appropriate solutions to solve problems. In this research, qualitative research was conducted through documentary research. The research result showed as follows: Clearing house should improve the revocation on cheque of the clearing house and should cancel some revocations on cheque of the clearing house, for example, 1) drawer’s signature irregular 2) drawer’s signature incomplete 3) cheque mutilated 4) please endorse in ink 5) endorsement required bank’s confirmation 6) please confirm payee’s Account credited 7) please confirm…..’s account credited and 8) drawer is non-resident, E.C. required.