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Contents
Article 539
A cheque shall contain:
- 1.
- the title "cheque" in the text of the document in the language in which the document has been written;
- 2.
- unconditional order for payment of a certain sum of money;
- 3.
- name of the person, who should pay (drawee);
- 4.
- date and place of issue;
- 5.
- place of payment;
- 6.
- signature of the drawer.
Incomplete contents
Article 540
- (1)
- A document which does not contain some of the requisites indicated under Article 539, shall not be a cheque, except in the cases, specified in paragraphs 2, 3 and 4.
- (2)
- A cheque in which no place of payment has been indicated, shall be considered payable at the place indicated next to the name of the drawee. Where there are several places indicated, the cheque shall be payable only at the first place indicated.
- (3)
- If no other place has been indicated, a cheque shall be paid at the place of domicile of the drawee.
- (4)
- A cheque in which the place of issue has not been indicated, shall be considered issued at the place indicated next to the name of the drawer.
Issue
Article 541
- (1)
- A cheque payable in the Republic of Bulgaria may be issued only against a bank.
- (2)
- The drawer of the cheque must have coverage with the drawee.
- (3)
- The drawee shall be obliged to pay the cheque to the amount of coverage, if he has explicit or tacit agreement with the drawer.
- (4)
- A cheque shall be valid even where the provisions of paragraphs 2 and 3 have not been complied to.
Invalidity of acceptance
Article 542
A cheque shall not be subject to acceptance. A note of acceptance on the cheque shall be invalid.
Types of cheques
Article 543
- (1)
-
A cheque may be issued:
- 1.
- to a certain person with or without explicit provision "to order";
- 2.
- to a certain person with provision "not to order" or another equivalent provision;
- 3.
- to bearer.
- (2)
- A cheque in favour of a certain person with provision "or to bearer" or another phrase of equivalent meaning, shall have the same effect as a cheque to bearer.
- (3)
- A cheque in which the name of the person in whose favour it has been issued is not indicated, shall be deemed a cheque to bearer.
Cheque to the order of the drawer or against the drawer
Article 544
- (1)
- A cheque may be issued to the drawer or to his order.
- (2)
- A cheque may not be drawn on the drawer, except where issued between different branches of a merchant.
Inapplicability of interest
Article 545
A provision for interest included in a cheque shall be invalid.
Cheque payable with a third party
Article 546
A cheque may be payable with a third party at the domicile of the drawee or at another place only if the third party is a bank.
Liability of the drawer
Article 547
The drawer shall be liable for payment of the cheque. Any provision relieving him from liability shall be invalid.
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