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Regarding payments by checks,
it is appropriate to indicate the following. A valuable check is 
a valuable check that contains an unconditional order of the check-giver to the bank to pay the 
amount specified in the check to the keeper of the check (part 1 of article 807 of the CC). The 
specifics of payments on checks are related to the subjective composition of the check. The 
following persons can be participants in check legal relations: only legal entities with their own 
bank account number can participate as a check giver, and legal entities and individuals can 
participate as check keepers; only the bank that has the bank account that issued the check and 
issued the checkbook can participate as a payer of checks. 
As a rule, a check is used to pay the main obligation between the bill-bearer and the payer, but a 
direct statement of a check for a certain amount cannot repay the monetary obligation. The fact is 
that “the check only replaces the existing debt obligation, but does not eliminate it, and the debt 

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MERICAN Journal of Public Diplomacy and International Studies
www.
 grnjournal.us 
 
obligation remains until the payer pays the check. It is from this moment that the check holder 
loses the right to claim against the check giver” [6]. By its very nature, a check is a surrogate for 
money and can never replace money. The main conclusion follows from this: 
The main debtor of the check is the payer. The bearer of the cheque is not bound to the bank by 
legal obligations, and the bank does not accept the cheque and is not responsible for non-
payment of the cheque to the bearer (such liability may arise in relation to the cheque giver, the 
guarantor of the cheque, the endorser, in advance and other persons who handed over the 
cheque). 
The obligation under the check is abstract, "not based on anything" and separate from the main 
obligation, and payment is made by issuing a check. 
The obligation under the check becomes irrevocable until the day the check is presented for 
payment. Payments by cheque cannot exclude interest. 
Being a security, the check must have the details established by law (article 808 of the CC), the 
absence of such details makes the check invalid. 
In accordance with article 810 of the CC, the name of the owner is written on the check and the 
transfer can be a check. The type of receipt determines the method of transferring rights to it. 
In accordance with article 810 of the CC, a check in the name of the owner cannot be issued to 
another person. This, in turn, means that the rights to the check cannot be transferred to another 
person. The transfer of rights to a check or an endorsement on non-transferable checks is allowed 
in favor of any person, including the check giver himself. The endorsement against the payee is 
cancelled by a regular invoice and is only a receipt for receipt of payment. The endorsement 
made by the payer is invalid. In addition, single approval is not allowed. The person who 
received the cheque in the order of endorsement is the actual owner of the cheque if he relies on 
his right in the continuous order of endorsements. 
Payment of the check can be fully or partially guaranteed by means of a guarantee (aval). The 
payment guarantee (aval) on the check can be given by any person except the payer (part 1-2 of 
Article 811 of the CC). 
Presentation of the check for payment can be carried out by presenting it directly to the payer 
bank, as well as presentation in the order of collection (article 812 of the CC). Payment of the 
cashed check is carried out in the order of collection (article 805 of the CC). Usually, the issuing 
bank transfers money to the payer after receiving it from the paying bank. However, the law also 
provides for another method of settlement, according to which funds can be transferred to the 
account of the check holder than before receiving money in the form of a loan from the payer 
bank. After receiving the check, the payer must make sure that the check is genuine and that the 
owner of the check has authority over it. In cases of payment of a forged, stolen or lost check, 
the issue of cost sharing between the check-giver and the bank may arise. Unfortunately, the law 
does not contain a specific provision regarding the case of loss of a check due to force majeure 
or the event of the check giver. It can be seen that in this case, the general rules applicable to 
damage caused by force majeure circumstances should be applied. 
What actions should be taken if the bank refuses to pay the money on the check? The 
establishment of this fact is carried out in several cases provided for in article 814 of the CC: 

notary's protest in accordance with the procedure established by law; 

indicating the date of presentation of the receipt for payment with a note on the payer's 
refusal to pay the check; 

that the collecting bank notes that the check was presented on time and the money was not 
paid for it, indicating the date. 

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