Dalam dunia usaha saat ini, penggunaan Surat Berharga Komersil biasa dilakukan untuk memperoleh fasilitas pembiayaan jangka pendek untuk menambah modal kerja perusahaan. Skripsi ini membahas tiga hal, yaitu: (1) bagaimana tanggung jawab hukum para pihak dalam transaksi Surat Berharga Komersial; (2) apakah Trade Confirmation of Promissory Notes dapat dianggap sebagai novasi; dan (3) apakah Surat Berharga Komersial telah daluwarsa. Hasil penelitian dengan metode deskriptif ini menunjukkan bahwa: (1) ) tanggung jawab hukum para pihak dalam transaksi Surat Berharga Komersial melekat pada masing-masing pihak sesuai kapasitasnya; (2) Trade Confirmation of Promissory Notes tidak dapat dianggap sebagai novasi. Issuer masih terkait dan bertanggung jawab atas utang-piutang dalam perikatan dasar, sehingga investor masih mempunyai hak tagih atas utang-piutang tersebut; dan (3) Surat Berharga Komersial telah daluwarsa, namun perikatan dasarnya belum daluwarsa. Oleh karena itu, issuer masih bertanggung jawab atas utang piutang, sehingga investor masih dapat melakukan penuntutan atas utang-piutang.

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In present business world, the usage of commercial paper commonly perfomed to obtain short term financing facility in addition of corporate working capital. This thesis discusses three issues, namely: (1) how the legal responsibility of the parties in commercial paper transactions, (2) whether the Trade Confirmation of Promissory Notes can be considered as a novation, and (3) whether the Securities Commercial has expired.

The results of this descriptive method reaserch showed that: (1) the legal responsibilities of the parties in commercial paper transactions are attached to each party according to its capacity, (2) Trade Confirmation of Promissory Notes should not be construed as a novation. Issuers are still relevant and responsible for the debts of the underlying agreement, so that investor still have the right to bill for these debts, and (3) Commercial paper has expired, but the underlying agreement has not expired. Therefore, the issuer is still liable for debts, so that investors can still make the prosecution of debts.