The drawer, an endorser or a guarantor may indicate a person to accept or pay as required. The bill of exchange may, under the conditions hereinafter determined, be accepted or paid by a person intervening on behalf of any debtor exposed to recourse. The intervening person may be a third party, even the drawee, or a person already obliged under the bill of exchange, except the acceptor. The intervening person…
Acceptance by intervention may take place in all cases where recourse is open before maturity to the bearer of an acceptable bill of exchange. Where a person has been indicated on the bill of exchange to accept it or pay it if necessary in lieu of payment, the bearer may not exercise his rights of recourse before maturity against the person who affixed the indication and against subsequent signatories unless…
Payment by intervention may take place in all cases where, either on the due date or before the due date, recourse is open to the bearer. Payment must include all the sum that would have to be paid by the person for whom it takes place. It must be made no later than the day after the last day admitted for the making of the protest in the absence of…
If the bill of exchange has been accepted by parties having their domicile in the place of payment or if persons having their domicile in that same place have been indicated to pay if necessary, the bearer must present the bill to all such persons and have a protest drawn up, if necessary, in default of payment at the latest on the day following the last day admitted for the…
A holder who refuses payment by intervention forfeits his recourse against those who would have been released.
Payment by intervention must be evidenced by an acknowledgment given on the bill of exchange, with an indication of the person for whom it is made. In the absence of this indication, the payment is deemed to have been made for the drawer. The bill of exchange and the protest, if one has been drawn up, must be remitted to the payer by intervention.
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…
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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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