The person obliged in return (lawyer or guarantor) who complies with the payment of the payment may©, by the exchange action, demand the reimbursement of what he has paid, less the costs to which he has been sentenced, default interest at the legal rate on the amount from the date of his payment, recovery costs and other legal costs. For a payment© to exist, be valid and have legal effects, its content must contain the requirements of the General Law on Securities and Credit Transactions©, whether the document is written in printed form or in Puã±o and Letter. In practice, people often use printed formats available on the Internet or for sale in stores, but nothing legally prevents you from writing the document by hand± as long as they meet the legal requirements. For the purposes of section 152, the amount of the promissory note shall include the income due; the discount on the promissory loan which has not yet expired shall be calculated at the interest rate agreed therein or, failing that, at the statutory interest rate, and default interest shall be charged at the interest rate fixed for that rate; in the absence of such a provision at the rate of income indicated in the document and, in the absence of both, at the legal rate. The provision of the promissory note in Law 19/1985 of 16 July, exchange and cheque, is found in Chapter XIV of the promissory note, which contains articles 94, 95, 96 and 97. Article 96 is the most important in that it provides that the provisions relating to bills of exchange and payment for intervention (Articles 70 and 74 to 78) shall apply to promissory notes, unless this is incompatible with the nature of this Title. • Non-payment measures (Articles 49 to 60 and 62 to 68). However, the optional clauses included in the promissory note must be expressly signed for their validity by a person authorized to insert them, without prejudice to the signatures required by this Law for the validity of the title. • Loss, theft or destruction (Articles 84 to 87). Article 174 The last paragraph of Article 77, 79, 80, 81, 85, 86, 88, 90, 109 to 116, 126 to 132, 139, 140, 142, 143, second, third and fourth paragraphs, 144, second and third paragraphs, 148, 149, 150, Divisions II and III, 151 to 162 and 164 to 169, applies to the promissory note. If the participant waives the date of the hearing, the hearing may be entered by the licensee. The direct exchange action is directed against the subscriber or, where applicable, against his or her guarantor or guarantors. The exchange action of the declaration is exercised against the endorsers or their guarantors or guarantors, where applicable.

The statement that it is a promissory note that is inserted in the text of the document; A loan title©is a document necessary for the exercise of the literal right set out therein. the date and place of subscription to the document; moreover, the legal structure of the banknote and the promissory note has little in common and are securities with different formal requirements. It should be noted that the application of the rules relating to the transition to the promissory note is not a mechanical or simple task, as is often implied. Interpretation work is always necessary, which undermines the legal certainty of the value of the security. 1)-. Legitimation: Once the right to the material medium that is the document has been established, the possession of it legitimizes its holder for the exercise of this document. In this way, only the holder of the security document can exercise and transfer the literal and autonomous right referred to therein by taking possession himself (bearer documents) or in connection with other additional requirements (note in the titles of the decision, designation in the registered names), which determines and determines the person of the creditor, because in the exercise of the documented right, he is exempt from the burden of proof for his property, which is presumed by the mere possession of the exchange document. Section 171 If the promissory note does not indicate the date of its maturity, it shall be deemed to be due on request; If the place of payment is not specified, it will be considered as such of the place of residence of the subscriber. The unconditional promise to pay a certain amount of money; 3).- Abstraction: The right included in the guarantee is autonomous in the sense that the current holder of the exchange document does not exercise the same right as the previous holder.

With each movement, the right is renewed and becomes an original and non-secondary right, independent of that of the former holders of the security right, which, and most importantly, is not affected by the relations that may have existed between the debtor and the previous holders and against which personal exceptions to them cannot be fought. Law 19/1985 of July 16, Exchange and Check (LCCH), is an obsolete and incomplete legislation that has not been reformed to adapt it to the commercial reality of the twenty-first century. The regulation of the promissory note in Law 19/1985 of 16. July, Exchange and Check (LCCH) is very short, confusing, incomplete and also constitutes a legal error, since the regulation of the promissory note practically does not exist, since Law 19/1985 of 16 July is limited to the provisions of the bill of exchange. There are only four articles on the promissory note and one of them, art. 96 is limited to the provisions of the bill of exchange applicable to the promissory note: `provided that this is not incompatible with the nature of the act`. It should be noted that in Law 19/1985 of 16 July (LCCH) there are 93 articles governing the bill of exchange and 61 articles regulating the cheque. As a consolation, we can say that before the approval of the CHL in 1985, the regulation of promissory notes was even worse. The signature of the participant or the person signing at your request or on your behalf. In a different order, promissory notes as securities, which are three characteristic notes that are generally accepted: the protest for non-payment must be raised at the address indicated in the document, and its omission, if the person who must make the payment is not the subscriber himself, leads to the expiration of the shares that compete for the promissory note with the holder against the endorsers and against the subscriber.

The pagar© is a loan © regulated by the General Law on Credit Operations and Operations©. Credit certificates are commercial acts in accordance with the Commercial Code©and commercial matters in accordance with the General Law on Securities and Credit Transactions©. If no total or partial payment of the payment is made, or if the subscriber of the payment© is© declared bankrupt or insolvent, the holder of the deed may exercise the action in direct exchange before the competent courts and in return. Except in this case, in order to retain its shares and rights vis-à-vis the subscriber, the holder is not required to present the promissory note at maturity or to protest against its non-payment. Article 173 The direct debit note shall be presented for payment to the person indicated as direct debit and, in the absence of a specific direct debit, to the subscriber himself at the place of residence indicated as his place of residence. Article 172 Promissory notes due at a given time of the hearing must be submitted within six months of their date. The notification shall have the effect only of fixing the date of expiry and shall be reviewed in accordance with the last paragraph of Article 82. By these actions, the holder of the document may demand payment of the full amount of the payment©, default interest from the due date and other legal costs. In accordance with Article 96 of the LCCH, the provisions relating to bills of exchange due to the domicile of a third party or to a place other than that of the domicile of the beneficiary (Articles 5 and 32) also apply to the promissory note; determination of interest (Article 6); differences in the declarations of the amount to be paid (Article 7); the consequences of signing under the conditions laid down in Articles 8 and 9); the signature of a person acting without or outside his powers (Article 10); the change of blind person (Article 12) and any related supplement (Article 13). The provisions on security also apply to the promissory note (Articles 35 to 37).

In the case provided for in the last paragraph of Article 36, it shall be presumed that it is the signatory of the promissory note if the guarantee does not show who has received a guarantee. The exchange action can be exercised by the holder of the payment© against all debtors (subscriber, supporter or guarantor) at once or against one or the other of them, without losing the lawsuit against the others and without having to follow the order of the signatures of the endorsers. 2).- Literacy: The right included in the exchange document has the content, extension and modality resulting from the literal formulation.