The payer by intervention acquires the rights resulting from the bill of exchange against the person for whom he has paid and against those who are bound vis-à-vis the latter by virtue of the bill of exchange. However, he may not endorse the bill of exchange again. Endorsers subsequent to the signatory for whom payment has been made are discharged. In the event of competition for payment by intervention, the…
The bill of exchange may be drawn in several identical copies. These copies must be numbered in the text of the document itself; otherwise, each of them is considered to be a separate bill of exchange. Any bearer of a bill which does not indicate that it has been drawn in a single copy may demand, at his own expense, the issue of several copies. To this end, he must…
Payment made on one of the copies is a discharge, even though it is not stipulated that this payment cancels the effect of the other copies. However, the drawee remains liable in respect of each accepted copy of which he has not obtained the return. The endorser who has transferred the copies to different persons, as well as subsequent endorsers, are liable in respect of all copies bearing their signature…
The person who has sent one of the copies for acceptance must indicate on the other copies the name of the person in whose hands this copy is. The latter is obliged to hand it over to the lawful bearer of another copy. If he refuses to do so, the bearer may only exercise recourse after having had it established by a protest: 1° That the copy sent for acceptance…
Any bearer of a bill of exchange has the right to make copies of it. The copy must reproduce exactly the original with the endorsements and all other particulars appearing thereon. It must indicate where it stops. It may be endorsed and guaranteed in the same manner and with the same effects as the original.
The copy must name the holder of the original document of title. The latter is bound to deliver the said document of title to the lawful bearer of the copy. If he refuses to do so, the bearer may exercise recourse against the persons who have endorsed or endorsed the copy only after having it established by a protest that the original has not been delivered to him at his…
If the text of a bill of exchange is altered, signatories subsequent to the alteration are bound by the terms of the altered text; earlier signatories are bound by the terms of the original text.
All actions arising from the bill of exchange against the acceptor shall be barred after three years from the due date. The bearer’s actions against the endorsers and against the drawer shall be barred after one year from the date of the protest drawn up in due time or from the due date, in the case of a no-cost return clause. Actions by endorsers against each other and against the…
Payment of a bill of exchange due on a legal holiday may only be demanded on the first working day thereafter. Similarly, all other acts relating to the bill of exchange, in particular presentation for acceptance and protest, may only be performed on a working day. Where one of these acts must be performed within a certain period, the last day of which is a legal public holiday, that period…
Legal public holidays are assimilated to days on which, under the laws in force, no payment may be demanded, nor any protest drawn up.
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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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