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Contents
Article 455
A bill of exchange shall contain:
- 1.
- the title "bill of exchange" in the text of the document in the language in which the document has been written;
- 2.
- unconditional order to pay a certain sum of money;
- 3.
- name of the person who must pay (drawee);
- 4.
- maturity;
- 5.
- place of payment;
- 6.
- name of the person to whom or to whose order the sum must be paid (payee);
- 7.
- date and place of issue;
- 8.
- signature of the drawer.
Incomplete Contents
Article 456
- (1)
- A document which does not contain any of the requisites listed in Article 455, shall not be a bill of exchange, except for the cases specified in the paragraphs below.
- (2)
- A bill of exchange in which no maturity has been specified, shall be deemed payable on demand.
- (3)
- A bill of exchange in which no place of payment has been specified, shall be deemed payable at the place indicated next to the name of the drawee, which shall be assumed to be the place of residence of the drawee.
- (4)
- A bill of exchange in which no place of issue has been indicated, shall be considered to be issued at the place indicated next to the name of the drawer.
Bill of Exchange to the Order of the Drawer and Against the Drawer
Article 457
A bill of exchange may be issued to the order of the drawer himself, as well as against the drawer.
Place of Payment
Article 458
- (1)
- A bill of exchange may be payable at the place of residence of a third party, at the place of residence of the drawee, or at another place.
- (2)
- Where the drawer has specified in the bill of exchange a place of payment other than the place of residence of the drawee, without indicating a third party with whom the payment is to be effected, the drawee may determine this third party upon acceptance. It shall be assumed, unless otherwise agreed, that the drawee has undertaken to pay personally at the place of payment specified in the bill of exchange.
- (3)
- Where a bill of exchange is payable at the place of residence of the drawee, he may indicate upon acceptance an address within the same locality where the payment is to be effected.
Obligation for Interest
Article 459
- (1)
- In a bill of exchange payable on demand or within a certain term after presentation, the drawer may undertake an obligation for interest on the amount. In the case of any other bill of exchange such an obligation shall be considered null and void.
- (2)
- The amount of the interest must be indicated in the bill of exchange.
- (3)
- Interest shall be charged as from the date of issue of the bill of exchange, unless another date has been specified.
Differences in the Sum
Article 460
- (1)
- Where the sum has been written in the bill of exchange in figures and in words, in the case of difference the sum written in words shall be valid.
- (2)
- Where the sum has been written in the bill of exchange several times in words or in figures, in the case of difference the smallest sum shall be valid.
Validity of Signatures
Article 461
Should a bill of exchange bear signatures of persons who may not undertake obligations under a bill of exchange, false signatures, signatures of non-existent persons or signatures which, for some other reason, may not bind the persons who have signed or on behalf of whom the bill of exchange has been signed, the obligations of the other persons who have signed shall be valid.
Signature Without Authorization
Article 462
A person who signs a bill of exchange as an agent without having such authority, or who exceeds his authority by doing so, shall be personally liable under the bill of exchange, and should he pay, he shall have the same rights as would have the represented person.
Liability of the Drawer
Article 463
- (1)
- The drawer shall be liable for the acceptance and payment of a bill of exchange.
- (2)
- The drawer may be relieved of liability for acceptance, but he may not be relieved from liability for payment.
Blank bill of Exchange
Article 464
If a bill of exchange, which has not been filled in at issue, is filled in not as agreed, the default on the agreed may not be counterposed against the bearer unless he has acquired the bill of exchange through abuse of authority or gross negligence.
Objections of Debtors
Article 465
Debtors under a bill of exchange may not use against the bearer objections based on their personal relationship with the drawer or with some of the former bearers, unless the bearer did not act in good faith in acquiring the bill of exchange.
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