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This paper developed the analysis of the Panamanian legislation that regulates the preparation, issuance, effectiveness, prescription and transfer of checks in the Republic of Panama. In the first place, a doctrinal conceptualization regarding the subject was carried out, especially the conceptual definitions of the check and its characteristics and functions. An interpretative analysis of the two main legal norms on the matter was carried out: The Commercial Code and the Negotiable Documents Law. To carry out this analysis, the exegetical method was used, with emphasis on the regulations about the creation and form of the check; the endorsement; the guarantee and payment of the check; the lack of payment and the prescription of the check. The main conclusion is that it is advisable to adopt a new legislation on the regulation of checks, which unifies the criteria contained in the various laws and which clearly decrees that the current provisions that are contrary to it are repealed. This in order to modernize our legislation and adapt it to the current changing circumstances of the development of economic activity
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