Legitimationspapier - Mensekishoken (English spelling)

Japanese: 免責証券 - めんせきしょうけん（英語表記）Legitimationspapier

When a debtor makes a payment to the holder of the instrument, it takes effect as payment and the debtor is discharged from the obligation, regardless of whether the holder is a legitimate right holder or not, unless there is bad faith or gross negligence. For example, a baggage receipt or a shoe tag is used when a debtor has many debts with the same contents and it is difficult to identify the creditors. However, an exemption instrument does not represent a right, and the debtor does not necessarily have an obligation to make payment to the holder of the instrument. In addition, the holder of an exemption instrument does not have a right to receive performance by holding the instrument, but only has the qualification to receive performance, so it is also called a qualified instrument. In contrast, a security represents a right, and the debtor is obligated to make payment to the holder of the instrument. In this way, an exemption instrument is different from a security, but in reality, a security is also an exemption instrument. In the case of a simple exemption instrument that is not a security, the holder is not presumed to be the right holder under the law, and the transfer of rights by the instrument is not recognized. For this reason, while a debtor can ask the holder of an exemption certificate to prove that he or she is the owner of the right when in doubt, a holder of an exemption certificate can exercise his or her rights even if he or she does not possess the certificate if he or she can prove that he or she is the owner of the right in some other way.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

債務者がその証券の所持人に弁済することにより，その所持人が正当な権利者であると否とを問わず，悪意または重大な過失のないかぎり，弁済としての効力を生じ，債務者が免責される証券。たとえば荷物預り証，下足札のようなもので，これらは債務者が同じ内容をもつ多数の債務を負い，そのために債権者の識別が困難である場合に利用される。しかし，免責証券は権利を表章せず，証券所持人に対して債務者は必ずしも弁済をなす債務を負担していない。また免責証券の所持人はその証券を所持することにより履行を受ける権利を有しているわけではなく履行を受ける資格を有しているにすぎないために，これを資格証券ともいう。これに対し有価証券は，権利を表章している証券で債務者はその所持人に対して弁済をなす義務を負う。このようにして免責証券は有価証券と異なるものであるが，実際上有価証券は免責証券でもある。有価証券でない単なる免責証券は，法律上，証券所持人が権利者と推定されることはなく，証券による権利の譲渡も認められない。このため，債務者は疑わしいときには免責証券所持人に権利者であることの立証を求めることができる反面，権利者は，証券を所持しなくても他の方法で権利者たることを証明すれば権利の行使は可能である。

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