2. Form and time limits for declarations on cheques

¹ The form of a declaration on a cheque is determined according to the law of the country in whose territory such declaration was signed. However, compliance with the formal requirements laid down by the law of the place of payment is sufficient.

² Where a declaration on a cheque that is invalid pursuant to the previous paragraph would be valid under the law of the country in whose territory a subsequent declaration is signed, the validity of the later cheque declaration is not affected by any formal defects of the earlier declaration.

³ Similarly, a declaration on a cheque made by one Swiss national abroad is valid as against another Swiss national in Switzerland providing it satisfies the formal requirements laid down by Swiss law.

b. Law of the place of payment

The law of the country in whose territory the cheque is payable determines:

1.

whether the cheque is necessarily payable on sight or whether it may be drawn for a specified time after sight and what the effects are if a date later than the real issue date is indicated on the cheque;

2.

the time limit for presentation;

3.

whether a cheque may be accepted, certificated, confirmed or given a mark of approval and what the effects of such comments are;

4.

whether the bearer may request part payment and whether he must accept part payment;

5.

whether a cheque may be crossed or have the comment “account payee only” or an equivalent comment appended to it and what the effects of such crossing or comment are;

6.

whether the bearer has specific rights to the cover and what the nature of such rights is;

7.

whether the drawer may revoke the cheque or protest against payment of the cheque;

8.

the measures to be taken in the event of the loss or theft of the cheque;

9.

whether a protest or equivalent declaration is required to preserve the right of recourse against the endorser, the drawer and the other parties liable for the cheque.