When do Voluntary Payments Through Mediation under the Promissory Note Take Place?

Abstract

This paper considers a question of occurrence of a voluntary payment by means of mediation under the promissory note, which depends on the time of occurrence of the holder's right for recourse. Particular attention is given to the judicial practice of application of the debt securities legislation relating to the holder's right of recourse. For the first time it is defined that, on the theoretical level, there is some correlation between the occurrence of the holder's right to a recourse and a voluntary payment as a means of mediation by persons not party to the bill circulation, or those already liable on the bill. In addition, the article touches upon the question of the right of the holder to a recourse and of the conditions for the appearance of such a right in accordance with the provisions of the bill law.