The exchange letter contains:

1.

The name of the exchange letter inserted in the text of the title and expressed in the language used for the drafting of the title,

2.

The simple and simple mandate to pay a specified amount,

3.

The name of the person to pay (taken),

4.

The indication of the schedule;

5.

The one at which the payment is to be made;

6.

The name of the person to whom or to whom the payment must be made,

7.

The indication of the date and place where the letter is created,

8.

The signature of the person issuing the letter (shooter).

The title in which one of the particulars indicated in the preceding Article is missing shall not be valid as a letter of exchange, except in the cases determined by the following paragraphs:

The letter of exchange whose expiry date is not indicated is considered to be payable in view.

In the absence of a special indication, the place designated next to the name of the drawn shall be deemed to be the place of payment and, at the same time, the place of domicile of the shooting.

The letter of exchange that does not indicate the place of its creation shall be deemed to be subscribed to in the designated place next to the name of the shooter.

The bill of exchange can be ordered by the shooter himself.

It can be drawn on the shooter himself.

It may be drawn on behalf of a third party.

A bill of exchange may be payable at the home of a third party, either in the locality in which the person is domiciled or in another locality.

In a letter of exchange payable for sight or a certain period of time, it may be stipulated by the shooter that the sum will be productive of interest. In any other letter of exchange, this stipulation shall be deemed to be unwritten.

The interest rate must be indicated in the letter, in the absence of that indication, the clause is deemed to be unwritten.

Interest runs from the date of the exchange letter, if another date is not indicated.

The letter of exchange, the amount of which is written in both letters and figures, is worth, in the case of a difference, for the sum written in all letters.

The letter of exchange, the amount of which is written several times, either in letters or in figures, is worth, in the case of a difference, only for the lesser sum.

If the bill of exchange bears signatures of persons unable to compel by letter of exchange, false signatures or signatures of imaginary persons, or signatures which, for any other reason, cannot oblige persons Which have signed the letter of exchange, or the name of which it was signed, the obligations of the other signatories are no less valid.

Anyone who signs on a bill of exchange, as a representative of a person for whom he has no power to act, is obliged by the letter himself and, if he has paid, has the same rights as the alleged representative would have had. The same is true of the representative who has exceeded his powers.

The shooter is the guarantor of acceptance and payment.

It may exempt itself from the guarantee of acceptance, any clause by which it is exempt from the guarantee of payment is deemed to be unwritten.

If a letter of exchange, incomplete on the issue, has been completed contrary to the agreements, the non-compliance with those agreements may not be opposed to the bearer, unless he has acquired the letter of exchange in bad faith or He did not commit a heavy fault.

Chapter II
From Endorsement

Any letter of exchange, even if not expressly drawn in order, is transmissible by way of endorsement.

Where the shooter has inserted in the letter of exchange the months "not in order" or an equivalent expression, the title shall be transmissible only in the form and with the effects of an ordinary assignment.

Endorsement can be made even to the benefit of the shot, acceptor or not, of the shooter or any other person. These people can endorse the letter again.

The endorsement must be pure and simple. Any condition to which it is subordinate shall be deemed to be unwritten.

The partial endorsement is null.

The bearer's endorsement is considered to be a blank endorsement.

The endorsement must be on the letter of exchange or on a sheet attached to it (lengthens). It must be signed by the endorser.

Endorsement may not designate the beneficiary or simply consist of the signature of the endorser (endorsement in white). In the latter case, the endorsement, in order to be valid, must be recorded on the back of the letter of exchange or on the extension.

The endorsement transmits all the rights resulting from the letter of exchange.

If the endorsement is in white, the bearer may:

1 °

Fill out the blank, either the name or the name of another person;

2 °

Endorse the letter again in blank or to another person,

3 °

Give the letter to a third party, without filling out the blank and without endorsment.

The endorser is, unless otherwise specified, the guarantor of acceptance and payment.

It may prohibit a new endorsement; in this case, it is not bound by the guarantee to the persons to whom the letter is subsequently endorsed.

The holder of a letter of exchange is considered to be a legitimate holder if he or she justifies his right through an uninterrupted sequence of endorsements, even if the last endorsement is in white. Biffered endorsements are considered unwritten in this regard. When an endorsement in white is followed by another endorsement, the person signing it is deemed to have acquired the letter by the endorsement in white.

If a person has been dispossessed of a letter of exchange by any event, the holder, justifying his right in the manner indicated in the preceding paragraph, shall not be required to divest himself of the letter unless he has acquired it in bad faith or if, By acquiring him, he made a heavy mistake.

Persons operated under the bill of exchange may not object to the holder the exceptions based on their personal relationship with the shooter or with the previous carriers, unless the holder, by acquiring the letter, acted Knowingly to the detriment of the debtor.

Where the endorsement contains the words "value for recovery", "for cashing", "by proxy" or any other reference involving a simple warrant, the holder may exercise all the rights deriving from the bill of exchange, but he cannot Endorse it as a proxy.

The obligors may, in this case, invoke against the bearer only those exceptions which would be enforceable against the endorser.

The term of office in a power of attorney shall not end with the death of the principal or the occurrence of his or her incapacity.

Where an endorsement contains the statement "value for security", "pledge value" or any other reference involving a pledge, the holder may exercise all the rights deriving from the letter of exchange, but an endorsement by him shall be valid only as An endorsement as a proxy.

The holders cannot rely against the bearer for exceptions based on their personal relationship with the endorser, unless the bearer, in receiving the letter, acted knowingly to the detriment of the debtor.

The posterior end of the expiry date produces the same effects as a previous endorsement. However, after the expiration of the time limit for the payment of the protection, or after the expiration of the time limit set for the preparation of the protection, only the effects of an ordinary assignment shall be produced.

Unless there is evidence to the contrary, the undated endorsement shall be deemed to have been made before the expiration of the time limit set for the preparation of the safeguard.

Chapter III
Of acceptance

The letter of exchange may, until the expiry date, be presented at the acceptance of the shooting, instead of his domicile, by the holder or even by a mere holder.

In any letter of exchange, the shooter may stipulate that it will have to be presented for acceptance, with or without a time limit.

It may prohibit in the letter the submission to acceptance, unless it is a letter of exchange payable to a third party or a letter payable in a locality other than that of the home of the shooting or a letter made within a certain period of time. A view.

It may also stipulate that the acceptance presentation will not take place before a specified term.

Any endorser may stipulate that the letter must be submitted for acceptance, with or without a time limit, unless it has been declared not acceptable by the shooter.

The letters of exchange to a certain period of time must be submitted to the acceptance within one year from their date.

The shooter may shorten the time limit or specify a longer time limit.

These delays can be shortened by the endosensors.

The learned may request that a second presentation be made the day after the first. The persons concerned are not entitled to claim that the application has not been granted only if it is mentioned in the safeguard.

The holder is not obliged to surrender, in the hands of the person, the letter submitted for acceptance.

The acceptance is written on the letter of exchange. It is expressed by the word "accepted" or any other equivalent word; it is signed from the shot. The simple signature on the front of the letter is accepted.

As to the letter is payable to a certain period of time or when it has to be submitted for acceptance within a specified time limit under a special stipulation, the acceptance shall be dated the day on which it was given, unless the holder Requires that it be dated to the date of the submission. In the absence of a date, the bearer, in order to retain his rights of appeal against the endosensors and against the shooter, reveals this omission by a timely safeguard.

Acceptance is pure and simple, but the shooting can restrict it to part of the sum.

Any other modification made by the acceptance of the particulars of the letter of exchange is tantacide to a refusal of acceptance. However, the acceptor is bound by the terms of its acceptance.

When the shooter has indicated in the letter of exchange a place of payment other than that of the home of the shooting, without designating a third party to whom the payment is to be made, the shooting may indicate it upon acceptance. In the absence of this indication, the acceptor is deemed to have to pay himself instead of the payment.

If the letter is payable at the home of the shooting, it may, in the acceptance, indicate an address of the same place where the payment is to be made.

By accepting the shot, it is necessary to pay the letter of exchange at maturity.

In the absence of payment, the bearer, even if he is the shooter, has against the acceptor a direct action resulting from the letter of exchange for anything that may be required under s. 48 and 49.

If the person who received the letter of change of acceptance struck the letter before the return of the letter, the acceptance shall be refused. In the absence of proof to the contrary, the cancellation shall be deemed to have been made before the return of the security.

However, if the shooting has made its acceptance in writing to the holder or to any signatory, it shall be bound by it in the terms of its acceptance.

Chapter IV
Downstream

The payment of a letter of exchange can be guaranteed for all or part of its amount by a downstream.

This guarantee is provided by a third party or even by a signatory of the letter.

The endorsement is given on the letter of exchange or on an extension.

It is expressed in the words "good for downstream" or any other equivalent formula; it is signed by the downstream donor.

It shall be considered as the result of the signature of the downstream donor, affixed to the front of the letter of exchange, except when it is the signature of the shooting or that of the shooter.

Downstream must indicate for whom it is given. In the absence of this indication, he is deemed given to the shooter.

The downstream donor shall be held in the same manner as the guarantor.

His undertaking is valid, even though the obligation he has guaranteed would be void for any cause other than a defect.

When paying the bill of exchange, the downstream donor acquires the rights resulting from the letter of exchange against the guarantee and against those who are required to do so under the letter of exchange.

Chapter V
From Deadline

A foreign exchange letter may be issued:

-

To view;

-

A certain period of time;

-

A certain period of time;

-

Fixed-day.

Foreign exchange letters, or other maturities, are null and void.

The bill of exchange to be seen is payable to the submission. It must be submitted for payment within one year from the date of payment. The shooter may shorten this time or specify a longer time limit. These delays can be shortened by the endosensors.

The shooter may prescribe that a bill of exchange payable to a view should not be presented for payment before a specified term. In this case, the time limit for submission of the term.

The expiry of a letter of exchange to a certain period of time shall be determined either by the date of acceptance or by the date of the protection.

In the absence of the protet, the undated acceptance shall be deemed, in respect of the acceptor, to have been given on the last day of the time limit for the submission to acceptance.

The maturity of a letter of exchange drawn at one or more months of date or view takes place on the corresponding date of the month in which the payment is to be made. If there is no corresponding date, the deadline is on the last day of that month.

When a letter of exchange is drawn at one or more months and a half of a date or a view, the whole month is counted.

If the deadline is set at the beginning, in the middle (mid-January, mid-February, etc.) or at the end of the month, these terms mean the first, the fifteen or the last day of the month.

The terms "eight days" or "fifteen days" mean not one or two weeks, but a period of eight or fifteen effective days.

The term "half month" indicates a period of fifteen days.

When a currency exchange letter is payable at a fixed date in a place where the schedule is different from that of the place of issue, the date of the due date shall be considered as fixed according to the schedule of the place of payment.

When a letter of exchange between two places with different calendars is payable within a certain period of time, the day of the issue shall be reduced to the corresponding day of the schedule of the place of payment and the maturity shall be fixed accordingly.

The deadlines for the submission of bills of exchange shall be calculated in accordance with the rules of the preceding paragraph.

These rules are not applicable if a clause in the letter of exchange, or even the mere statements of the title, indicate that the intention was to adopt different rules.

Chapter VI
Payment

The holder of a currency letter payable on a fixed date or within a certain period of time shall present the letter of exchange to the payment, either on the day on which it is payable, or one of the following two working days.

The presentation of a letter of exchange to a clearing house is equivalent to a presentation to the payment. ¹

The shooting may require, by paying the bill of exchange, that it be paid by the bearer.

The bearer cannot refuse a partial payment.

In the case of partial payment, the shooting may require that a reference to this payment be made on the letter and that discharge be given.

The holder of a foreign exchange letter cannot be forced to receive the payment before the deadline.

The shooting that pays before the deadline does so at its peril.

The person who pays by the deadline is validly released, unless there is a fraud or gross negligence on his part. He is obliged to check the correctness of the sequence of the endorsements but not the signature of the endosensors.

Where a bill of exchange is stipulated in a currency that does not take place at the place of payment, the amount may be paid in the currency of the country by its value on the day of maturity. If the debtor is late, the holder may, at his option, request that the amount of the letter of exchange be paid in the currency of the country after the course, either on the day of maturity or on the day of payment.

The uses of the place of payment are used to determine the value of the foreign currency. However, the shooter may stipulate that the amount to be paid will be calculated based on a course determined in the letter.

The above rules do not apply to the case where the shooter has stipulated that the payment will have to be made in a specified currency (effective payment clause in a foreign currency).

If the amount of the exchange letter is indicated in a currency having the same denomination, but a different value in the country of issue and in the country of payment, it is presumed to have referred to the currency of the place of payment.

Failing submission of the letter of exchange to the payment within the period of time of the art. 38, any debtor has the right to remit the amount to the competent authority, at the cost, risk and peril of the bearer.

Chapter VII
Failure to accept and fail to pay

The bearer can exercise his or her recourse against the endosensors, shooter and other retails:

At maturity: if the payment has not taken place;

Even before the deadline:

1.

If there has been a refusal, total or partial, of acceptance,

2.

In the case of bankruptcy of the shooting, acceptor or non-acceptor, the termination of his payments, even without a judgement, or the seizure of his property which has remained unsuccessful;

3.

In cases of failure of the shooter of a letter that is not acceptable.

The refusal of acceptance or payment must be evidenced by an authentic act (due to lack of acceptance or lack of payment).

The safeguard due to lack of acceptance shall be made within the time limits fixed for the submission to acceptance. If, in the case provided for by s. 24, first paragraph, the first presentation took place on the last day of the deadline, the protection may still be drawn up the following day.

Failure to pay a bill of change payable on a fixed date or to a certain period of time or view shall be made one of the two working days following the day on which the exchange letter is payable. In the case of a letter payable, the safeguard must be prepared under the conditions set out in the preceding paragraph in order to establish the safeguard in the absence of acceptance.

The liability for lack of acceptance waivers the presentation to the payment and the safeguard due to lack of payment.

In the event of the termination of payment of the shooting, acceptor or not, or in the event of the seizure of his property which has not been unsuccessful, the holder shall not exercise his or her remedies until after the letter has been submitted for payment and after the preparation of a safeguard.

In the case of declared bankruptcy, acceptor or non-acceptance, as well as in the case of a declared bankruptcy of the shooter of a letter that is not acceptable, the filing of the declaratory judgment of the bankruptcy is sufficient to enable the holder to exercise his or her remedies.

The holder shall give notice of the defect in acceptance or payment to his/her endorser and to the shooter within four working days after the day of the protection or the presentation in case of a return clause without charge. Each endorser shall, within two working days after the day on which he receives the notice, make known to his endorser the notice he received, indicating the names and addresses of those who gave the previous advice, and so on, and so on Going back to the shooter. The above mentioned time limits are at the reception of the previous opinion.

Where, in accordance with the preceding paragraph, an opinion is given to a signatory of the letter of exchange, the same notice shall be given within the same period to, its avalizer.

In the event that an endorser has not indicated his or her address or indicated it in an illegible manner, it is sufficient that the notice be given to the endorser before it.

The person who has a notice to give may do so in some form, even by a simple reference to the bill of exchange.

He must prove that he gave the notice within the prescribed time limit. This period shall be considered as observed if a letter giving the opinion has been mailed within that period.

The person who does not give the notice within the said time limit shall not be subject to lapse; he shall be liable, where appropriate, for the damage caused by his negligence, without the damages exceeding the amount of the letter of exchange.

The shooter, endorser or endorser may, by means of the "return without charge" clause, "without protection", or any other equivalent clause, written on the title and signed, exempt the bearer from making, in order to exercise his or her actions, a fault Acceptance or lack of payment.

This clause does not relieve the holder of the presentation of the letter of exchange within the prescribed time limits or the notices to be given. Proof of failure to comply with time limits is the responsibility of the person who is against the bearer.

If the clause is entered by the shooter, it will effect its effects on all the signatories; if it is entered by an endorser or an avalizer, it will only produce its effects in respect of that person. If, in spite of the clause entered by the shooter, the bearer makes the protected interest, the costs shall be borne by the bearer. Where the clause emanates from an endorser or an avalizer, the costs of the protection, if any, may be recovered against all the signatories.

All those who have taken, accepted, endorsed or endorsed a letter of exchange are jointly and severally liable to the holder.

The bearer has the right to act against all these persons, individually or collectively, without being compelled to observe the order in which they have been obliged.

The same right shall belong to any signatory to a letter of exchange which has reimbursed the letter of exchange.

The action brought against one person does not prevent action against the others, even after the one who was first prosecuted.

The holder may claim against the person against whom he exercises his appeal:

1.

The amount of the letter of exchange not accepted or not paid with interest, if it has been stipulated;

2.

Interest at the rate of six per cent from time to time;

3.

The costs of the protection, those of the notices given, and the other costs. ¹

If the appeal is exercised before the due date, a discount will be made on the amount of the letter. This discount will be calculated on the basis of the official discount rate (Bank Rate) as at the date of the appeal instead of the bearer's place of residence.

Anyone who has repaid the bill of exchange can claim to its guarantors:

1.

The full amount he paid;

2.

The interest of the said sum, calculated at the rate of six per cent, from the day on which it disbursed it;

3.

The costs he has made. ¹

Any person against whom an appeal is brought or who is exposed to an appeal may require, against repayment, the surrender of the letter of exchange with the safeguard and an account paid.

Any endorser who has repaid the letter of exchange can delete his or her endorsements and those of subsequent endosperks.

In the event of the exercise of an appeal after partial acceptance, the person who reimburses the amount for which the letter has not been accepted may require that the reimbursement be mentioned on the letter and that it be given discharge. The bearer must, in addition, provide him with a certified copy of the letter and the safeguard to enable subsequent recourse.

Any person entitled to appeal may, unless otherwise agreed, be reimbursed by means of a new letter (retirement) drawn in the view of one of its guarantors and payable to the person's domicile.

Retirement includes, in addition to the amounts specified in s. 48 and 49, a right of brokerage and the right of retirement stamp.

If the retirement is drawn by the holder, the amount shall be determined on the basis of the course of a letter of exchange on sight, drawn from the place where the original letter was payable at the place of residence of the guarantor. If the retirement is drawn by an endorser, the amount is set according to the course of a letter from the place where the retired shooter has his domicile at the place of the guarantor's domicile.

After the expiry of the prescribed deadlines:

-

For the presentation of a letter of exchange with a view or a certain period of time;

-

For the manufacture of the safeguard due to lack of acceptance or lack of payment;

-

For the presentation to the payment in case of a free return clause;

-

The bearer is stripped of his rights against the endosensors, against the shooter and against the other retails, except for the acceptor.

In the absence of acceptance within the time limit stipulated by the shooter, the bearer shall be deprived of his rights of appeal, both in default of payment and in the absence of acceptance, unless it results from the terms of the stipulation that the shooter Has only heard of the guarantee of acceptance.

If the stipulation of a time limit for the presentation is contained in an endorsement, the endorser, alone, may take advantage of it.

When the presentation of the letter of exchange or the preparation of the protection within the prescribed time limit is prevented by an insurmountable obstacle (legal requirement of any State or other case of force majeure), these time limits are extended.

The holder is required to give, without delay, notice of the case of force majeure to his endorser and to mention this opinion, dated and signed by him, on the letter of exchange or on an extension: for the remainder, the provisions of Art. 45 are applicable.

After the force majeure ceases, the holder shall, without delay, submit the letter to the acceptance or payment and, where appropriate, shall cause the protection to be established.

If the force majeure persists beyond 30 days from the deadline, the remedies may be exercised, without the need for the presentation or the manufacture of a protet.

For letters of exchange or for a certain period of time, the 30-day period shall run from the date on which the holder has, even before the expiry of the deadlines for submission, given notice of the force majeure to his endorser; for the letters of Changes to a certain period of time, the 30-day period increases from the time limit indicated in the letter of exchange.

It is not considered to constitute cases of force majeure which are purely personal to the holder or to that which he has entrusted with the presentation of the letter or the making of the protection. ¹

Chapter VIII
From Work Order

1. General provisions

The shooter, endorser or endorser may indicate a person to accept or pay as required.

The exchange letter may, under the following conditions, be accepted or paid by a person involved in the case of any debtor exposed to the appeal.

The intervener may be a third party, even the shooting, or a person already obliged under the bill of exchange, except the acceptor.

The intervener shall, within two working days, give notice of its intervention to that for whom it has intervened. In the event of failure to comply with this time limit, it shall be liable, where appropriate, for the damage caused by its negligence without the damages exceeding the amount of the letter of exchange.

2. Acceptance by Work Order

Acceptance by intervention may take place in all cases where recourse is open, before the deadline, to the holder of an acceptable exchange letter.

Where a person has been indicated on the bill of exchange to accept or pay the bill if necessary instead of the payment, the bearer cannot exercise his rights of appeal before the expiry date against the person who applied the indication and against the signatories Unless it has presented the exchange letter to the designated person and the person who refused to accept the letter of exchange was not found to be in a position of protection.

In other cases of intervention, the holder may refuse acceptance by intervention. However, if he admits it, he loses the remedies before the expiry date against the one for whom the acceptance was given and against subsequent signatories.

The acceptance by intervention is mentioned in the letter of exchange, signed by the intervener. It shall indicate on whose behalf it takes place; in the absence of such indication, the acceptance shall be deemed to be given for the shooter.

The acceptor by intervention is obliged to the bearer and to the endosensors subsequent to that on whose behalf he intervened, in the same way as the latter.

In spite of the acceptance by intervention, the one for which it was made and its guarantors may require the holder, against the reimbursement of the amount indicated in Art. 48, the surrender of the bill of exchange, the safeguard and an account paid, if any.

3. Payment by intervention

The payment by intervention may take place in all cases where, either by the deadline or before the deadline, appeals are opened to the bearer.

The payment must include the full amount of the payment to which the payment is made.

It must be done no later than the day after the last day allowed for the garment to be made in the absence of payment.

If the letter of exchange has been accepted by intervenors having their domicile instead of the payment, or if persons domiciled in the same place have been indicated to pay as necessary, the bearer must present the letter to all those And shall cause, where appropriate, a safeguard in the absence of payment not later than the day after the last day allowed for the manufacture of the safeguard.

In the absence of protection within this period, the person who indicated the need or on behalf of whom the letter was accepted and the later endosensors cease to be obliged.

The holder who refuses the payment by intervention loses his actions against those who have been released.

The payment by intervention must be ascertained by a given acquit on the exchange letter with an indication of the one for whom it is made. Failing this indication, the payment is considered to be made for the shooter.

The bill of exchange and the safeguard, if any, must be given to the payer by intervention.

The payer by intervention acquires the rights resulting from the letter of exchange against the one for which it has paid and against those who are bound to the latter by virtue of the exchange letter. However, he cannot endorse the letter of change again.

Enumerators subsequent to the signatory for whom payment has been made are released.

In the case of competition for payment by intervention, the one operating the most liberation is preferred. The person who intervenes, in knowledge of the facts, contrary to this rule, loses his actions against those who have been released.

Chapter IX
Multiple copies and copies

1. Plurality of copies

The exchange letter may be drawn in several identical copies.

These copies must be numbered in the text of the title; otherwise, each is considered to be a separate letter of exchange.

Any holder of a letter which does not indicate that it has been drawn in a single copy may require the grant of several copies at its expense. To this end, he must address his immediate endorser, who is required to take care of him to act against his own endorser, and so on, going back to the shooter. Enumerators are required to reproduce the endorsements on the new copies.

The payment made on one of the copies is free of charge, even though it is not stipulated that this payment cancels the effect of the other copies. However, the drawn shall be kept on account of each accepted copy of which he has not obtained the return.

The endorser who transferred the copies to different persons, as well as the subsequent endosensors, is required by all copies bearing their signatures and not returned.

The person who sent one of the copies to the acceptance must indicate on the other copies the name of the person in the hands of which the copy is located. The latter shall be required to give it to the legitimate holder of another copy.

If the holder refuses to do so, the bearer can make an appeal only after having noticed by a protet:

1.

That the copy sent for acceptance has not been given to him on his application;

2.

That the acceptance or payment could not be obtained on another copy.

2. Copies

Any holder of a bill of exchange has the right to make copies thereof.

The copy must reproduce exactly the original with the endorsements and all other references therein. It must indicate where it stops.

It can be endorsed and endorsed in the same way and with the same effects as the original.

The copy shall designate the holder of the original title. The latter shall be obliged to surrender the title to the legitimate holder of the copy.

If the person refuses to do so, the holder shall not appeal against persons who have endorsed or endorsed the copy only after having made a declaration by a person that the original has not been furnished to him or her on his application.

If the original litre, after the last endorsement before the copy is made, bears the clause: "from here the endorsement shall be valid only on the copy" or any other equivalent formula, an endorsement subsequently signed on the original Is null.

Chapter X
Alterations

In the case of alteration of the text of a bill of exchange, the signatories subsequent to that alteration shall be bound in the terms of the altered text, the earlier signatories shall be in the terms of the original text.

Chapter XI
Of prescription

Any action resulting from the letter of exchange against the acceptor shall be barred by three years from the date of the expiry date.

The bearer's actions against the endosensor and the shooter are prescribed by one year from the date of the protected interest in due time or from the date of the expiry date, in the case of a return-free clause.

The actions of the endosensors against each other and against the shooter are prescribed for six months from the day on which the endorser has repaid the letter or the day on which he was himself activated.

The interruption of the limitation period shall have effect only against that in respect of which the interrupting act has been made.

Chapter XII
General provisions ²

The payment of a bill of exchange whose maturity is on a statutory holiday may be required only on the first working day that follows. Similarly, all other acts relating to the exchange letter, such as acceptance and protection, can only be made on one working day.

Where one of these acts is to be carried out within a certain period, the last day of which is a statutory holiday, that period shall be extended until the first working day following its expiry. Intermediate holidays shall be included in the computation of the time limit.

Statutory or treaty time limits do not include the day that serves as the starting point.

No day of grace, neither legal nor judicial, is allowed.

Part II
From promissornote

The promissable note contains:

1.

The name of the title inserted in the text itself and expressed in the language used for the drafting of the title ¹ ;

2.

The simple promise to pay a specific sum;

3.

The indication of the schedule;

4.

The one at which the payment is to be made;

5.

The name of the person to whom or to whom the payment must be made;

6.

The indication of the date and location of the ticket;

7.

The signature of the person issuing the title (subscriber).

The title in which one of the particulars indicated in the preceding Article is missing shall not be valid as a promissement note, except in the cases determined by the following paragraphs.

The promissable note whose expiry date is not indicated is considered to be payable in sight.

In the absence of a special indication, the place of creation of the security is deemed to be the place of payment and, at the same time, the place of residence of the subscriber.

The promissed note that does not indicate the place of creation is considered to be in the designated place next to the name of the subscriber.

The following are applicable to the promissory note, as they are not incompatible with the nature of this litre, the provisions relating to the exchange letter and concerning:

-

Endorsements (art. 11-20);

-

Due date (s. 33-37);

-

Payment (s. 38-42);

-

Appeals for lack of payment (art. 43-50, 52-54);

-

Payment by intervention (s. 55, 59-63);

-

Copies (s. 67 and 68);

-

Alterations (art. 69);

-

Prescription (art. 70-71);

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Holidays, the computation of time limits and the prohibition of days of grace (art. 72, 73 and 74).

The provisions relating to the letter of exchange payable to a third party or to a locality other than the home of the shooting are also applicable to the promissarment note (art. 4 and 27), the stipulation of interest (art. 5), the differences in the particulars relating to the amount to be paid (Art. 6), the consequences of the affixing of a signature under the conditions referred to in s. 7, the signature of a person acting without authority or exceeding his or her powers (s. 8), and the letter of exchange in white (art. 10).

Also applicable to the promissor note, the downstream provisions (Art. 30 to 32), in the case provided for in Art. 31, last paragraph, if the endorsement does not indicate on the account of which it was given, it is deemed to have been approved on behalf of the policyholder of the promissed note.

The subscriber of a promissed note is required in the same manner as the acceptor of a bill of exchange.

Tickets payable to a certain period of time must be submitted to the policyholder's visa within the time limits set out in s. 23. The short period of view of the date of the visa signed by the subscriber on the ticket. The refusal of the subscriber to give a dated visa is established by a person (s. 25), the date of which is used as the starting point for the viewing period.