Which of the following is true regarding the concept of negotiable instruments in Japan?
A) The law governing securities in Japan is technical with little ambiguity or arbitrary application.
B) The Japanese recognize the legal concept of yuka shoken, which means "valuable securities."
C) The Japanese have a single legislative act governing both commercial paper and investment securities.
D) The Japanese Commercial Code recognizes the term negotiable instruments.
E) Japanese law does not regulate investment securities.

Question

Quizplus · Accepted Answer

The Japanese recognize the legal concept of yuka shoken, which means "valuable securities" and encompasses checks, drafts, bonds, and stocks. The ambiguity surrounding "valuable securities" has created problems in Japan. Because there is no single definition, judges and scholars interpret yuka shoken on the basis of the definition they find most satisfactory at the time.

Which of the Following Is True Regarding the Concept of Negotiable