A Study of Legal Rules Applicable to Electronic bill of exchange

Abstract

Nowadays, electronic commercial instruments can be easily used in Cyberspace. Electronic bill of exchange is also one of these instruments. Efforts have been made in UNCITRAL towards creating a suitable field for increasing electronic commercial relations .So it is possible for merchants to benefit from the mechanisms designed to take advantage of electronic commerce such as the electronic bill of exchange. In terms of using electronic bills of exchange, such Issues as the written form, way of attribution, signature and the legal validity and the formal conditions of the electronic bill of exchange are raised. This article, which is the first comprehensive research on electronic bill of exchange in Iranian legal system, deals with the issue in the law of Iran, the laws of foreign countries and international conventions. We believe that the fundamental principles of commercial law about the bill of exchange and the rules of electronic commerce enacted in 1382, can be applied to electronic bill of exchange in Iranian law, and be analyzed based on the available laws.

Keywords

• electronic commercial instruments
• electronic signature
• electronic bill of exchange
• paper bill of exchange
• electronic commerce