I. – The bill of exchange contains: 1° The name of the bill of exchange inserted in the actual text of the instrument and expressed in the language used for the drafting of that instrument; 2° The pure and simple mandate to pay a specified sum; 3° The name of the person who must pay, referred to as the drawee; 4° The indication of the due date ; 5° That…
The bill of exchange may be to the order of the drawer himself. It may be drawn on the drawer himself. It may be drawn on behalf of a third party. It may be payable at the domicile of a third party, either in the locality where the drawee has his domicile or in another locality.
In a bill of exchange payable at sight or within a certain period of sight, it may be stipulated by the drawer that the sum will bear interest. In any other bill of exchange, this stipulation is deemed to be unwritten. The rate of interest must be stated in the bill; if it is not stated, the clause is deemed to be unwritten. Interest accrues from the date of the…
A bill of exchange the amount of which is written both in words and in figures shall, in the event of a difference, be worth the sum written in words. A bill of exchange the amount of which is written several times, either in words or in figures, shall, in the event of a difference, be worth only the lesser sum.
Bills of exchange subscribed by minors are void as regards them, save for the respective rights of the parties, in accordance with Article 1352-4 of the Civil Code. If the bill of exchange bears signatures of persons incapable of obligating themselves by bill of exchange, false signatures or signatures of imaginary persons or signatures which, for any other reason, cannot bind the persons who signed the bill of exchange, or…
The drawer is guarantor of acceptance and payment. He may exonerate himself from the guarantee of acceptance; any clause by which he exonerates himself from the guarantee of payment shall be deemed unwritten.
The provision must be made by the drawer or by the person on whose behalf the bill of exchange is to be drawn, without the drawer on behalf of others ceasing to be personally obliged to the endorsers and the bearer alone. Provision is made if, on maturity of the bill of exchange, the person on whom it is provided owes the drawer, or the person on whose behalf it…
Any bill of exchange, even if not expressly drawn to order, is transferable by way of endorsement. Where the drawer has inserted in the bill of exchange the words “not to order” or an equivalent expression, the instrument is transferable only in the form and with the effects of an ordinary assignment. Endorsement may be made even in favour of the drawee, whether acceptor or not, the drawer or any…
I. – The endorsement transmits all the rights resulting from the bill of exchange. II. – If the endorsement is in blank, the bearer may: 1° Fill in the blank, either with his name or with the name of another person; 2° Endorse the bill again in blank or to another person; 3° Give the bill to a third party, without filling in the blank and without endorsing it.
The endorser is, unless otherwise agreed, guarantor of acceptance and payment. He may prohibit further endorsement. In this case, he is not obliged to guarantee against persons to whom the letter is subsequently endorsed.
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is a Registered Trademark of
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75001, Paris France
RCS Paris n°814433470
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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