Section 986.- The maker of a promissory note is bound in the same manner as an acceptor of a bill of exchange.

Promissory notes payable at a certain time after sight must be presented for the visa of the maker within the limits of time fixed by Section 928. The limit of time runs from the date of the visa, signed by the maker of the note. The refusal of the maker to give his visa with the date thereon, must be authenticated by a protest and the date of which gives the point of departure for the limit of time from sight.

 

CHAPTER IV

CHEQUES

 

Section 987.- A cheque is a written instrument by which a person, called the drawer, orders a banker to pay on demand a sum of money to, or to the order of, a person, called the payee.

 

Section 988.- A cheque must contain the following particulars :

(1)   The designation of it as a cheque ;

(2)   An unconditional order to pay a sum certain in money ;

(3)   The name or trade name and address of the banker ;

(4)   The name or trade name of the payee or a mention that it is payable to bearer ;

(5)   The place of payment ;

(6)   The date and place where the cheque is issued ;

(7)   The signature of the drawer.

 

Section 989.- The following provisions of Chapter II relating to Bills of Exchange are applied to Cheques in so far as they are not inconsistent with the nature of this instrument, namely, Sections 910, 914 to 923, 925, 926, 938 to 940, 945, 946, 959, 967,971.

In case of foreign cheques the following provisions shall also apply, namely, Sections 924, 960 to 964, 973 to 977, 980.

 

Section 990.- The holder of a cheque must present it for payment to the banker within one month after the date of issue if it is payable in the same town where it is issued, or within three months if it is payable elsewhere ; otherwise he loses his right of recourse against the indorsers ; he also loses his right against the drawer to the extent of any injury caused to the drawer by failure of such presentment.

The holder of such cheque as to which such drawer is discharged shall be subrogated to the rights of such drawer against the banker.

 

Section 991.- A banker is bound to pay a cheque drawn on him by his customer unless in the following case, namely :

(1)   There is not enough money to the credit of the account of the customer to meet the cheque, or

(2)   The cheque is presented for payment later than six months after the date of drawing, or

(3)   Notice is given that the cheque has been lost or stolen.