Chapter II Bills of Exchange
Section 1 Issuance and Form
Article 24
A bill of exchange shall specify the following particulars and be signed by the drawer:
1. Words expressing it to be a bill of exchange.
2. A sum certain in money.
3. Personal or business name of the drawee.
4. Personal or business name of the payee.
5. An unconditional order to pay.
6. Place where it is drawn.
7. Date of drawing.
8. Place of payment.
9. Date of maturity.
If a bill does not specify the date of maturity, it is deemed to be payable at sight.
If a bill does not specify the drawee, the drawer shall be drawee.
If a bill does not specify the payee, the holder shall be the payee.
If a bill does not specify the place where it is drawn, the place of business, domicile or residence of the drawer shall be that place.
If a bill does not specify the place of payment, the drawee's place of business, domicile or residence shall be that place.
Article 25
The drawer may make himself or the drawee the payee, and may also make himself the drawee.
The holder of a bill that does not specify the payee may specify himself or any other person as the payee in the margin of the bill payable to bearer, thereby altering it to a bill payable to order.
Article 26
The drawer may designate and specify in the bill, in addition to the drawee, a person as the drawee's paying agent.
The drawer may also designate and specify in the bill, in addition to the drawee, a person at the place of payment as referee in case of need.
Article 27
The drawer may specify in the bill the detailed address where the payment is to be made at the place of payment.
Article 28
The drawer may make a statement in the bill to the effect that interest will be paid on the amount of the bill at a specified rate.
If an interest rate is not specified, it shall be fixed at 6 percent per annum.
Except as otherwise agreed upon between the parties, interest shall accrue from the date of drawing.
Article 29
The drawer shall guarantee the acceptance and payment of the bill according to its tenor. The drawer may, however, by special agreement be exempted from the liability for guaranteeing the acceptance of the bill.
The special agreement referred to in the preceding paragraph shall be expressly specified in the bill.
If a bill contains a statement exempting the drawer from the liability for guaranteeing the payment, the statement shall be void.