Titles Credit

José Alberto Tapia Gámez

Page 1TITLESCREDITGuillen Rocio Castañeda

Page 2Definition of Credit TitlesThey are debt securities documentsnecessary to exercise the rightliteral that is recorded in them. Article 5.General law of titles and operationsof credit.Documents necessary to exercise andtransfer the rights mentioned in it,which, due to the circulation andwhile this takes place byown titlescredit is considered literal and autonomousversus those who acquire goodfaith.

Page 3They are considered below 3aspects:a) The credits as acts ofTrade: Article 1o. The LTOCprovides that the issuance, issuance, endorsement,endorsement or acceptance of credit, andOther operations in themconsigned, are acts of commerce.Commercial transactions: checks, bills ofInstead, securities or other securities to order or tocarrier. Art. 75 of the Commercial Code.In all these cases, the commercial ratingthe act is strictly objective, withregardless of the quality of the personperforming it.


Page 4b) The credits as thingscommercial: Article 1o. The LTOCestablishes that the commercial stuffcredits. But it has said thatThey differ from all other thingscommercial that those aredocuments; ie real mediagraphic representation of facts. HasIn addition, the character of personal property,in terms of our legislationcommon.They are considered below 3aspects:

Page 5They are considered below 3aspects:c) The credits asdocuments: The law and doctrineThey consider that the credits aredocuments. But they are anatureSpecial.Therethemerely supporting documents,whose function is to demonstrategraphically the existence of somelegal relationship, same as in the absence ofsuch documents may be testedby any other means admissible inlaw.

Page 6ClassificationCredit TitlesBill of exchange


Promissory noteCheckBondActionsAmong others, such as credit Avio, CreditRefaccionario, Obligation, etc.

Page 7FeaturesEntitlements.- Literal document should be exercised by thebeneficiary as it is written in the title, and the forcedIt must comply in such terms.Autonomy .- The right shall be independent ofany condition to try to modify or limit andYou shall be responsible for complying with the terms of the document.Incorporation .- In order to exercise the right is necessarytake possession of the title or document..- The documents circulating movement now going fromone person to another by endorsement or deliverydocument if bearer.Legitimacy.-To be legally valid must besomeone's name.Nature ejecutoria.- Van rigged executiongoods are seized first and then see, isguarantees payment of the obligation.

Page 8Bill of exchangeIt is a claim that contains theunconditional order for a personcalled the drawer gives another callrotated, to pay a sum of money


to a third party called beneficiary,in time and place. Cap. 2Sec. 1st. Art. 76 LGTOC.

Page 9Elements involved inBill of exchangeMaker's drawer or .- A person whogives the payment order.Turned .- A person who ismake such payment orders.Beneficiary or Holder: The personempowered to exercise the literal rightas stated in the credit titleIn the modern commercial law have beenreduced to the drawer and the beneficiary.

Page 10Letter Requirementschangea) The reference to be draft, inserted into theDocument text (solemnity requirement);b) The expression of the place, day, month and year in whichsubscribes;c) The unconditional order to pay a sum rotatedgiven money;d) The name of the drawee;e) The place and time of payment;f) The name of the person who is to be madepayment; Yg) The signature of the drawer or the person who subscribes tohis request or on his behalfArt. 70 LGTOC

Page 11Example of Bill of Exchange

Page 12


Bill of exchange servesfor…To support operationscommercial made in installments.

Page 13I will repay.It is a claim that contains theSubscriber unconditional promiseto pay a sum of money insteadand time determined the order oftaker. Cap. 3 . Art. 170 LGTOC.It is a claim in whichslogan unconditional promisepay a certain sum ofmoney, promise made by thesubscriber to the borrower.

Page 14Elements involved inPromissory note.- Drawer or Debtor is whoagrees to pay the sum of money, theview or a fixed future date ordeterminable.Or beneficiary is one whose Creditor .-order the payment of the sum to be donemoney stated in the note.Surety or guarantee .- The person who guaranteespayment of the note.

Page 15a) The mention of note be inserted in theDocument textb) the unconditional promise to pay asum of money;c) The name of the person who has to


made the payment;d) The place and time of payment;e) The date and place to subscribethe document;f) The signature of the subscriber or of the personsign at his request or on his behalf.Art. 70 LGTOCI will pay:

Page 16I Note Example:

Page 17It serves to pay ...Seat a written promise by theWhat a person to pay are forceda sum of money withindetermined.

Page 18DIFFERENCES:Vs pay bills of exchange: In the note there is thefigure turned, or the acceptor and the subscriberassumes the role of the latter in responsedirectly from the fulfillment of obligationscontained in the title.Vs pay bill of exchange is that in theYou may stipulate pay interest whilein the bill of exchange is not it.In the note has not accepted, the debtorobliges itself to the Creditor.In the note two people listed in the letter three.The note is signed by the debtor, the letter issigned by rotating the document.The note does not have character executive. For lack of


payment to indicate action is required executivesignature recognition and document.

Page 19CHEQUEIt is a claim under whicha person named spinner ordersan institution unconditionallyCredit is the drawee, to pay asum of money for a personnamed beneficiary. Cap. Four. Art. 175LGTOC.It is a title nominative or creditcarrierthanIt containstheorderunconditionally to pay a sum in sightgiven money issued bya credit institution whoit has funds that can beavailable in that form.

Page 20Elements involved inCheckDrawer or drawer of the check thatIt is the account holder.Bank in charge of the check is drawn.

Page 21Requirements Checka) The reference to be check, insertin the text of the document,b) The place and date of issue;c) The unconditional order to pay asum of money;


d) The name of the drawee;e) The place of payment.f) The signature of the drawer;Art. 176 and 177 LGTOC

Page 22Bypass the requirementscheckOnly waged against an institutioncredit.You can only fight the personhas entered into a contractdeposit money to the account viewcurrent checking with the bankRidOnly you can deliver when the drawerteng to insufficient funds in your account.

Page 23Example of check:

Page 24Check serves to ...It is an instrument or means of payment, whicheconomically replaces the paymentmoney.Prevents or reduces unnecessary use oflarge sums of cash.Concentration of money in banks,which by the exercise of the credit,become productive resourcesexpensive than other fo rmThey remain isolated or print oductivos.

Page 25BONO


It is a promissory note or contract titlelong-term credit in which theissuing company agrees to paythe creditor certain amount ofmoney agreed date periodspecified, and then redeem inexpiration date noted.

Page 26BONOBonds are certificates that are issuedfor resources, these indicate that thecompany borrows certain amount ofmoney and agree to pay afuture date with an established suminterests previously, and in a perioddetermined.When an investor buys a bond, youthis lending his money either to agovernment, a local authority, an agencyState, to a corporation or company, orsimplyto theprestamist a.Example: CETES

Page 27Example Bono

Page 28Bonus Example:CETESThey are debt securities denominated bearernational currency are borne by the GovernmentFederal. Such securities may or may not accrueinterests.It is the instrument of debt securities oldest


These instruments are used by the government to takeresources (money) and you can pay its commitments;mean they are a liability or credit forgovernment.The federal government collects money by issuing a seriespaper as collateral, the most common of themcalled CETES. Essentially what the governmentthis paper does is swap with an investorfor cash, used it to paywages, build hospitals, etc. In the paper is onepromise to repay the money morean additional amount.

Page 29ACTIONSAccording to the Business Corporations ActCommercial action is partrate of capitaldisplayed in a claim, thewhich he attributed to the one who owns it oflegitimately qualify for membership,and therefore, the power to exercise therights emanating from it as wellor transmitting the condition tofor third parties.

Page 30Classification of actionsActions like aliquot ofequity;Actions such as debt obligations;YActions as setrights and obligations.

Page 31Actions as partaliquot of capital.


They represent the cashcounterpart contributionsheritage that have been madeby partners, soWe have a direct relationship betweenamount of contribution, the number ofshares and the value of these.That is, the higher the amountthe contributions of the partners, isThey may issue more shares b iengive a higher value.

Page 32Actions such as titlescredits.The actions require a formgraphic expression thatmaterialize and containing theMentions provided for in Article125 of the Corporations ActCommercial.These graphical forms or serve titlesto establish, exercise and transmitAs a partner with theThis rights, and they are governed by theprovisions on securitiesliterals.

Page 33Actions as setrights and obligations.The set of rights and obligationspartners, have been qualified by the doctrinestatus.The status of shareholder comprises two types ofobligations to give and not to do; the obligation togive is to pay in cash or property


other than money, the shares subscribed by thepartner in a lump or by ainitial contribution equivalent to twenty percentshares subscribed in cash only (actionspayers) and the remaining difference on the dateindicated.The obligations not to do, is torefrain from participating and voting atassemblies in which an operation is discusseddetermined where the shareholder has aOtherwise interest to society, break thisobligation, the shareholder will be liable for damages

Page 34Example actions

Page 35DIFFERENCES BETWEENDEBT SECURITIESDIFFERENCESThe only interest is to accept promissory noteThe only thing you can be is the bearercheckOnly check the subscriber andbeneficiary can be yourselfThe legal obligation of prior banda on the checkThe check does not run or limitYou can not revoke the note or letterchangeThe check can be revoked

Page 36SIMILARITIES BETWEENDEBT SECURITIES


SIMILARITIESCredits are three (letterexchange, promissory note and check)All three can endorseThe three express an obligationIts characteristics are autonomy,executory nature, literalness,legitimation and circulationincorporationAll have a beneficiary