lõppkandjale

Lõppkandja is a term used in Estonian commercial and civil law to describe the final bearer of a negotiable instrument in a chain of transfers. The word blends lõpp, meaning end, with kandja, meaning bearer or holder. The concept identifies the person who, in the end, is entitled to demand payment or performance from the issuer, assuming the instrument has been properly transferred and presented.

In practice, negotiable instruments such as promissory notes, bills of exchange, or checks may pass through multiple holders through endorsements or other transfers. The lõppkandja is the ultimate holder in the transfer chain, who possesses the instrument and stands in the position to enforce payment against the debtor. The exact rights of the lõppkandja depend on the type of instrument (bearer versus order instrument) and the validity of prior transfers and endorsements under Estonian law.

Rights and limitations accompany the status of lõppkandja. The holder generally has the right to present the instrument for payment and to receive the due amount, subject to the instrument’s terms and any defenses that could be raised by earlier endorsers or the issuer. The protection of the holder also depends on possession, the instrument’s form, and compliance with applicable procedures. Loss or theft can affect risk, but possession of a bearer instrument can itself confer title in many cases.

The concept helps clarify who has the standing to claim payment in a transfer chain and underpins practical banking and commercial procedures. See also negotiable instrument, endorsement, bearer instrument, and Law of Obligations Act.