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In this essay we are presented a rather complete examination of endorse-ment -institute classically representative of Exchange Law- in facilitating circulation of wealth through negotiable securities. A central theme, given that the doctrine of endorsement is raised as the cornerstone of all exchange theories, since all of them, in explaining the origin and nature of the obligation of the issuer and the acceptor, appeal to the form of acquisition of the endorsees. The study develops different aspects relevant to the genesis of endorsement, its legal nature, the versatility of its function, its peculiar characteristics, the legal treatment of its application, the effects it produces and the hypothesis of an electronic endorsement. Of course, the new technologies have had decisive and positive influence on these types of documents. So, this is a valuably documented work, as it is bathed not only the doctrinaire and legislative sources -particularly international ones-, indispensable to exchange law, but also in the interpretative criteria issued by the Mexican Courts in this regard.

*La primera parte del presente artículo se publicó en el número 7 de la presente publicación, con fecha enero-abril de 2004.

** Investigador del Instituto de Investigaciones Jurídicas de la UNAM.


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