Chapter II Bills of Exchange
Section 6 Date of Maturity
Article 65
The date of maturity of a bill shall be specified in one of the following forms:
1. Payable at a fixed date.
2. Payable at a fixed period after the date of drawing.
3. Payable at sight.
4. Payable at a fixed period after sight.
The entire outstanding portion of a bill payable in installments is deemed to be due and payable forthwith in the event that any of the installments is not paid when due.
The interest undue but included in the bill that is deemed to be due and payable in the preceding paragraph shall be deducted at the time of payment.
The entire outstanding portion of a bill bearing interest payable in installments before the date of maturity of the bill is deemed to be due and payable forthwith if any of the installments for payment of interest is not paid when due.
Article 66
If a bill is payable at sight, the day on which it is presented for payment shall be the date of maturity.
The provisions of Article 45 shall apply mutatis mutandis to the presentment referred to in the preceding paragraph.
Article 67
If a bill is payable at a fixed period after sight, the date of maturity shall be determined by the date of acceptance or the date of protest made, as the case may be.
If acceptance of a bill is refused and a protest is not made, the date of maturity shall be the last day of the time limit for presentment for acceptance under Article 45.
Article 68
If a bill is payable 1 month or several months after the date of drawing or after sight, the date of maturity shall be the day corresponding to the date of drawing or after sight in the month in which payment of the bill is due. If there is no corresponding day in that particular month, the last calendar day of the month shall be the date of maturity.
If a bill is payable 1 month and a half or on the 15th of any of the succeeding few months after the date of drawing or after sight, the date of maturity shall be the last day of a 15-day period added to a full calendar month worked out pursuant to the preceding paragraph.
If a bill merely states the beginning, the middle, or the end of the month, it shall mean the first day, the 15th day, or the last day of the month respectively.