Introduction

This study examines the legal consequences of a promissory note refused for payment or issued without sufficient funds under Romanian law, analysing both the creditor’s recovery mechanisms and the debtor’s available defenses.

What This Analysis Includes

It provides a structured overview of the applicable legal framework, primarily Law No. 58/1934 on Bills of Exchange and Promissory Notes and the regulations issued by the National Bank of Romania. The study details the bill-of-exchange remedies available to the holder (direct action, recourse action and bill enforcement), as well as extra-bill remedies such as the causal action and the unjust enrichment claim. It also explains essential procedural steps, including the protest for non-payment, enforcement formalities and opposition to enforcement.

Who Should Read

This analysis is relevant for legal practitioners, in-house counsel, financial institutions, entrepreneurs and commercial actors who use promissory notes as payment or credit instruments, offering practical guidance on risk management and debt recovery strategies.

Download the Full Analysis

The full version includes references to relevant case law, detailed explanations of prescription terms and procedural conditions, as well as practical insights on choosing the appropriate legal remedy depending on the specific circumstances of the case.

Need Legal Assistance?

For tailored advice on promissory note enforcement, recovery strategies or defense in enforcement proceedings, contact our team at office@sarbupartners.ro.