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Chapter Law Content

Title: Civil Code CH
Category: Ministry of Justice(法務部)
Part Ⅱ Obligations
Chapter II Particular Kinds Of Obligations
Section 3 - Current Account
Article 400
Current account is a contract whereby the parties agree that the claim of prestations and obligations arising from transactions between them shall be settled at fixed periods and offset against each other, the balance only being paid.
Article 401
The entry of a bill of exchange, promissory note, check or other negotiable instrument in current account may be cancelled, if such negotiable instrument is not paid by its debtor.
Article 402
In the absence of a specific agreement, the period for striking the balance of a current account shall be six months.
Article 403
Unless otherwise provided by contract, either party may at any time terminate the contract of current account and have the balance struck.
Article 404
The parties may agree that each item in the current account shall bear interest from the date of entry.
Interest may be claimed on the difference from the date the balance was struck
Article 405
Removal or correction of the items of entry in a current account shall not be claimed after one year from the date when the balance was struck.