Disputes on Bill of Exchange Law: The “Bianco” Promissory Note

Abstract

The study examines a specific and contested issue of bill of exchange law: the bianco (not fully completed) promissory note. The author provides an overview of the regulatory framework of the bill of exchange law introducing the concepts of both bills of exchange and promissory notes along with their essential elements. Special attention is given to the unique characteristics and legal nature of the intentionally not fully completed promissory note, particularly its distinction from an incomplete bill of exchange. Through the analysis of a specific legal case, the study highlights the practical challenges associated with the use of bianco promissory notes and the issue of abusive completion. The study critically evaluates the relevant judicial practice,  especially concerning the legal position of sureties and the interpretation of bill of exchange defences. The author argues
that the bill of exchange, particularly the promissory note, can still play a significant role in modern economy and could regain prominence in business practice through legal and economic educational reforms.