The Act relating to Issuance and Negotiation of Electronic Promissory Note promulgated on March 22, 2004 (Law No. 7197) has many problems. Namely, the Act is against the tendency of International Uniform Laws about Bills and Checks and does not harmonize with the current Bills and Checks Act. I wonder also whether the default will be rising through the misusing of the Electronic Promissory Note. The above mentioned problems (including abolition of the Act) should be analyzed and solved absolutely before the enforcement of the Act.