Chapter I: Bills of exchange

The bearer of a bill of exchange payable on a fixed day or within a certain period of date or sight must present the bill of exchange for payment either on the day on which it is payable or on one of the two following working days. Presentation of a bill of exchange to a clearing house is equivalent to presentation for payment.

The drawee may require, when paying the bill of exchange, that it be remitted to him discharged by the bearer. The bearer may not refuse partial payment. In the event of partial payment, the drawee may require that mention of such payment be made on the bill and that acknowledgement thereof be given to him. Payments made to account on the amount of a bill of exchange are to the…

The bearer of a bill of exchange cannot be compelled to receive payment before maturity. The drawee who pays before maturity does so at his own risk. He who pays on maturity is validly discharged, unless there is fraud or gross negligence on his part. He is obliged to check the regularity of the sequence of endorsements, but not the signatures of the endorsers.

Where a bill of exchange is stipulated to be payable in a currency which is not current at the place of payment, the amount may be paid in the currency of the country, according to its value on the day of maturity. If the debtor is in arrears, the bearer may, at his option, request that the amount of the bill of exchange be paid in the currency of the…

If the bill of exchange is not presented for payment on the due date, or on one of the two working days thereafter, any debtor shall be entitled to remit the amount thereof on deposit at the Caisse des dépôts et consignations, at the expense, risk and peril of the bearer.