Bills of Exchange in Europe
Mgr. Kateřina Drábková
Bills of Exchange in Europe
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Part four

Special Provisions of International Bill Law

Section 91

(1) The capacity of a person to bind himself by a bill of exchange or promissory note shall be determined by his national law. If this national law provides that the law of another country is competent in the matter, this latter law shall be applied. (2) A person who lacks capacity, according to the law specified in the preceding paragraph, is nevertheless bound, if his signature has been given in any territory in which according to the law in force there, he would have the requisite capacity.

Section 92

(1) The form of declarations on the bill of exchange or promissory note is regulated by the laws of the territory in which the declaration has been signed. (2) If, however the declarations on the bill of exchange or promissory note are not valid according to the provisions of the preceding paragraph, but are in conformity with the laws of the territory in which a subsequent declaration has been given, the circumstance that the previous declarations are irregular in form does not invalidate the subsequent declaration. (3)
Any declaration entered into abroad by a Czech citizen is applicable towards other Czech citizens as long as it complies with the formal requirements of the Czech law.

Section 93

(1) The effects of the obligations of the acceptor of a bill of exchange or maker of a promissory note are determined by the law of the place in which these instruments are payable. (2) The effects of the signature of the other parties liable of the bill of exchange or promissory note are determined by the law of the country in which is situated the place where the signature were affixed.

Section 94

The limits of time for exercise of rights of recourse shall be determined for all signatories by the law of the place where the bill of exchange or promissory note was created.

Section 95

The question whether there has been an assignment to the holder of the debt which has given rise to the issue of the instrument is determined by the law of the place where the instrument was issued.

Section 96

(1) The question whether acceptance may be restricted to part of the sum or whether the holder is bound to accept partial payment is governed by the law of the country in which the bill of exchange is payable. (2) The same rule governs the payment of promissory note.

Section 97

The form of protest an the limits of time for protest, as well as the form for the exercise or preservation of rights concerning bills of exchange or promissory notes, are regulated by the laws of the country in which the protest must be drawn up or the measures in question taken.

Section 98

The measures to be taken in case of the loss or theft of a bill of exchange or promissory note are determined by the law of the country in which the bill of exchange or promissory note is payable.

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