The bill of exchange may, until maturity, be presented on acceptance to the drawee, at the place of his domicile, by the bearer or even by a simple holder. In any bill of exchange, the drawee may stipulate that it must be presented on acceptance, with or without fixing a time limit. He may prohibit in the letter presentation on acceptance, unless it is a bill of exchange payable to…
The drawee may request that a second presentation be made to him the day after the first. Interested parties are only entitled to claim that this request has not been granted if it is mentioned in the protest. The bearer is not obliged to relinquish, in the hands of the drawee, the letter presented for acceptance.
Acceptance is written on the bill of exchange. It is expressed by the word “accepted” or any other equivalent word and is signed by the drawee. The mere signature of the drawee affixed to the face of the bill shall constitute acceptance. When the bill is payable at a certain sight period or when it must be presented for acceptance within a specified period by virtue of a special stipulation,…
Where the drawer has indicated in the bill of exchange a place of payment other than that of the drawee’s domicile, without designating a third party with whom payment is to be made, the drawee may indicate this at the time of acceptance. Failing such indication, the acceptor is deemed to have obliged himself to pay at the place of payment. If the bill is payable at the drawee’s domicile,…
By acceptance, the drawee undertakes to pay the bill of exchange on the due date. In the event of non-payment, the bearer, even if he is the drawer, has a direct action against the acceptor arising from the bill of exchange for everything that may be required under articles L. 511-45 et L. 511-46.
If the drawee, who has endorsed the bill of exchange with his acceptance, has crossed it out before the bill is returned, the acceptance is deemed to have been refused. In the absence of proof to the contrary, the striking out shall be deemed to have been made before the return of the bill. However, if the drawee has made his acceptance known in writing to the bearer or to…
The payment of a bill of exchange may be guaranteed for all or part of its amount by an aval. This guarantee is provided by a third party or even by a signatory of the bill. The aval is given either on the bill of exchange or on an allonge, or by a separate deed indicating the place where it was made. It is expressed by the words “bon pour…
I. – A bill of exchange may be drawn: 1° At sight; 2° At a certain sight period; 3° At a certain date period; 4° On a fixed day. II. – Bills of exchange, either at other maturities or at successive maturities, are void.
A sight bill is payable on presentation. It must be presented for payment within one year from its date. The drawer may shorten this period or stipulate a longer one. These time limits may be shortened by the endorsers. The drawer may prescribe that a bill of exchange payable at sight must not be presented for payment before a specified term. In this case, the time limit for presentation starts…
The maturity of a bill of exchange at a certain sight period is determined, either by the date of the acceptance or by that of the protest. In the absence of the protest, the undated acceptance is deemed, with respect to the acceptor, to have been given on the last day of the period provided for presentation at acceptance. The due date of a bill of exchange drawn at one…
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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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