Banks responsibility in the collection of the commercial paper contract

Authors

Wa’ed Ghaleb Al-Shawabkeh, Regular bar associationFollow

Abstract

The importance of studying this contract is to establish the legal nature of the bank’s responsibility when it fails to collect the value of the commercial paper, and to know the role and direction of the judiciary in that respect. The study relied on the element of analysis and education in a brief scientific way. The purpose of the study is to examine the legal basis for the Bank’s responsibility in the collection contract and the general provisions for this responsibility resulting for it, and to cover that responsibility in all its aspects. The study relies on the analytical method in order to achieve the purpose and objectives of the research, where the legal texts will be analyzed and practical results will be reached. In this research legal texts will be analyzed to reach scientific results, the study also reached results, including that there was no regulation from the Jordanian legislator for the collection, in addition to the overlapping of the agency and deposit contracts in the collection contract and that the bank’s responsibility towards its client is a contractual responsibility due to the nature of the relationship between them. The research recommends that the Jordanian Trade law should include special texts dealing with the collection contract, and that the judiciary be more present while evaluating the nature of the relationship and the basis of responsibility between the bank and its client, and it should be clearly stated that the bank may require the disqualification of itself from the liability resulting from collection contract.

Recommended Citation

Al-Shawabkeh, Wa’ed Ghaleb (2021) "Banks responsibility in the collection of the commercial paper contract," Al-Balqa Journal for Research and Studies البلقاء للبحوث والدراسات: Vol. 24: Iss. 2, Article 7.
Available at: https://digitalcommons.aaru.edu.jo/albalqa/vol24/iss2/7