Section 910.- An instrument in which any of the requirements specified in the forgoing section is wanting is invalid as a bill of exchange, except in the following cases :

A bill of exchange in which no time of payment is specified is deemed to be payable at sight.

If the place where payment is to be effected is not stated in a bill of exchange, the domicile of the drawee shall be considered to be the place of payment.

A bill of exchange which does not show the place at which it was drawn is considered as having been drawn at the domicile of the drawer.

If a bill of exchange does not mention the date on which it was drawn, any lawful holder, acting in good faith, may insert the true date.

 

Section 911.- The drawer may stipulate that the sum payable shall bear interest, in which case, unless otherwise provided, interest runs from the date of the bill.

 

Section 912.- A bill of exchange may be drawn payable to the drawer’s order.

It may be drawn on the drawer himself or on account of a third person.

 

Section 913.- The maturity of the bill of exchange is :

(1)   On a fixed day, or

(2)   At the end of a fixed period after the date of the bill, or

(3)   On demand, or at sight, or

(4)   At the end of a fixed period after sight.

 

Section 914.- Any person, who draws or indorses a bill of exchange, engages that on due presentment it shall be accepted and paid according to its tenor and that, if it be dishonoured by non-acceptance or non-payment, he will pay it to the holder or to a subsequent indorser who has been compelled to pay it, provided that the requisite proceedings on non-acceptance or non-payment have been duly taken.

 

Section 915.- The drawer of a bill of exchange, and any indorser, may insert therein an express stipulation :

(1)   Negativing or limiting his own liability to the holder ;

(2)   Waiving as regards himself some or all of the holder’s duties.

 

Section 916.- Person sued on a bill of exchange cannot set up against the holder defences founded on their personal relations with the drawer or with previous holders, unless the transfer has taken place in pursuance of a fraudulent understanding.

 

Section 917.- Every bill of exchange, even if not expressly drawn to order, may be transferred by means of an indorsement and delivery.

When the drawer has written on the face of a bill of exchange the words “not negotiable” or any equivalent expression, the bill can be transferred only according to the form, and with the effects of an ordinary transfer.

The bill may be indorsed to the drawee, whether he has accepted or not, or to the drawer, or to any other party to the bill. These persons may indorse the bill afresh.