Bill of Exchange and Its Application Problems in Slovak Republic

A bill of exchange as a way of paying a liability is the historically oldest private law institute. In contractual relations, lack of knowledge of bills of exchange may cause damage to property interests not only on the side of bills of exchange creditors but also on the side of bills of exchange debtors. For this reason, we have set our goal to identify and examine a bill of exchange from a legal point of view in the Slovak Republic. Through scientific research methods, we try to point out its shortcomings that may arise when it is issued and subsequently recovered. The paper consists of an introduction where we explain the reason for its origin and its objectives. The literature review and methodology used are followed by the results of the work as the core of the paper. In the results we focus on issues of origin and types of bill of exchange, its acceptance, payment, the possibility of transfer, guarantee and termination of obligations from the bill of exchange. In the discussion, we argue with a number of expert opinions and comments on the issues at stake. In conclusion, we present the results we have achieved in relation to the stated objectives and propose measures to address the identified shortcomings. The contribution focuses primarily on the area of securities and civil law with certain overlaps into economics. It also has the effects of a multidisciplinary as well as international law investigation.