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Presentation for Acceptance
Article 475
A bill of exchange may be presented to the drawee for acceptance at his place of residence by the bearer or the holder before maturity.
Instruction or Prohibition for Presentation
Article 476
- (1)
- The drawer may prescribe in the bill of exchange that it should be presented for acceptance, and also to specify a term for that. He may prescribe that the bill of exchange should not be presented for acceptance before a specified term.
- (2)
- The drawer may prohibit in the bill of exchange its presentation for acceptance, unless it is payable by a third party or at a place other than the place of residence of the drawee, or if it is payable within a specified term after the presentation.
- (3)
- Each endorser may prescribe that the bill of exchange be presented for acceptance, as well as to specify a term therefor, unless the drawer has prohibited presentation for acceptance.
Term for Presentation
Article 477
- (1)
- A bill of exchange payable within a certain period after presentation must be presented for acceptance within one year of its issue. The drawer may reduce or extend that term.
- (2)
- The terms under paragraph 1 may be reduced by the endorsers.
Secondary Presentation
Article 478
- (1)
- Upon presentation, the drawee may request that the bill of exchange be presented to him again on the next day. The interested parties may not object that such a request has not been satisfied, unless it has been indicated in the protest.
- (2)
- The bearer shall not be obliged to deliver to the drawee the bill of exchange which was presented for acceptance.
Form of Acceptance
Article 479
- (1)
- The acceptance shall be written on the bill of exchange with the word "accepted", or with another word of equivalent meaning, and shall be signed by the drawee. The signature of the drawee on the face of the bill of exchange shall be considered acceptance.
- (2)
- Where the bill of exchange is payable within a certain term following the presentation, or if it should be presented for acceptance within a specified term by virtue of a special provision, the acceptance must indicate the date on which this was done, unless the bearer requires the date of presentation to be indicated. If there is no date indicated, in order to preserve his recourse actions against the endorsers and the drawer, the bearer must ascertain the lack of date by protest.
Unconditional Acceptance
Article 480
- (1)
- Acceptance may not be effected under condition.
- (2)
- The drawee may limit the acceptance to part of the sum.
- (3)
- Any other modification of the contents of the bill of exchange upon its acceptance shall be considered rejection of acceptance, but the drawee shall be liable in compliance with the conditions of his acceptance.
Effect of Acceptance
Article 481
- (1)
- Upon acceptance the drawee undertakes to pay the bill on maturity.
- (2)
- In case of default of payment the bearer, even where he is the drawer, shall have an action against the drawee pursuant to Articles 505 and 506.
Repeal of Acceptance
Article 482
- (1)
- If the drawee who has accepted the bill of exchange has crossed out the acceptance before return of the bill, the acceptance shall be considered repealed. It shall be assumed, until proven to the contrary, that the crossing out has been effected before the return of the bill of exchange.
- (2)
- Where the drawee has notified in writing the bearer or some of the persons who have signed the bill of exchange of the acceptance, he shall be liable before them in accordance with the conditions of acceptance.
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