The essential requisites of form of bills of exchange : a comparative study

Abstract

The purpose of the dissertation is to analyse the requisites of form of bills of exchange contained in the Maltese Commercial Code and compare them with those required by the English and Italian laws. Though in Malta such requisites are listed under the heading "A bill of exchange must ... ", it results that the absence of some of them, namely, the date and place of issue, the date and place of payment and the value given, do not subscribe to the nullity of a bill. This is either because the law itself provides a remedy in case of absence or else it has been proved by various text writers, usually backed by court decisions, that a bill is legally valid and can still operate notwithstanding the lack of such requisites. In view of the complete silence of the Maltese law on important matters and the presence of some outdated provisions, amendment of our law cannot be delayed any further. It is suggested that such an amendment should be aimed towards international uniformity, especially if one considers the international function of a bill of exchange and its importance in the development of our foreign trade.