The provisions of article L. 511-21 relating to endorsement. In the case provided for in the sixth paragraph of this article, if the guarantee does not indicate on whose behalf it has been given, it is deemed to have been given on behalf of the subscriber of the promissory note.
The provisions of articles L. 511-56 to L. 511-61 relating to publicity and the extension of protest periods are applicable to protests drawn up for non-payment of a promissory note.
The subscriber of a promissory note is obliged in the same way as the acceptor of a bill of exchange.
Promissory notes payable at a certain sight period must be presented for the underwriter’s visa within the time limits set out in article L. 511-15. The sight period runs from the date of the underwriter’s signed visa on the Note. Refusal by the underwriter to give his dated endorsement is recorded by a protest, the date of which serves as the starting point for the sight period. .
Payment by promissory note is only permitted to the debtor if it has been expressly provided for by the parties and mentioned on the invoice. Even in this case, if the promissory note has not reached the creditor within thirty days of the invoice being sent, the creditor may issue a bill of exchange which the debtor is obliged to accept under the conditions set out in the penultimate and…
The operator of an establishment used as a warehouse where industrialists, traders, farmers or craftsmen deposit raw materials, goods, commodities or manufactured products, may only issue negotiable pledge notes or storage receipts and classify his establishment as a general shop if he has obtained approval from the prefect.
Reasons shall be given for the prefectoral order ruling on the application for approval.
The transfer of a general shop is subject to the approval of the prefect, given in the same forms.
Any cessation of operation not followed by a transfer is subject to six months’ notice being given by the operator to the prefect. On expiry of this period, and if the general interests of the business so require, a provisional administrator may be appointed by the president of the judicial court ruling, on application or in summary proceedings, at the request of the public prosecutor.
Operators of general shops are prohibited from engaging, either directly or indirectly, whether on their own account or on behalf of others, as commission agents or in any other capacity, in any trade or speculation involving the goods for which they are authorised to issue warehouse receipts.
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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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