Part Ⅱ Obligations
Chapter II Particular Kinds Of Obligations
Section 3 - Current Account
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.
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.
In the absence of a specific agreement, the period for striking the balance of a current account shall be six months.
Unless otherwise provided by contract, either party may at any time terminate the contract of current account and have the balance struck.
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
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.