A bill of exchange contains:
- The designation "bill of exchange" inserted in the text of the instrument itself and expressed in the language used to draft the instrument;
- An unconditional order to pay a specified sum;
- The name of the party who must pay, known as the drawee;
- The due date;
- The place of payment;
- The name of the person to whom or to whose order payment is to be made;
- The date and place of issue;
- The signature of the issuer, known as the drawer. This signature is applied either by hand or by any non-manual method.
An instrument lacking any of the information specified in the preceding article is not valid as a bill of exchange, except in the cases determined by the following paragraphs:
A bill of exchange without a due date is considered payable on demand.
Unless otherwise specified, the place designated next to the drawee's name is deemed to be the place of payment and, at the same time, the place of the drawee's domicile.
A bill of exchange that does not indicate the place of its creation is considered to have been drawn at the place designated next to the drawer's name.
- The bill of exchange may be made payable to the drawer himself.
- It may be drawn on the drawer himself.
- It may be drawn on behalf of a third party.
It may be payable at the domicile of a third party, either in the locality where the drawee is domiciled or in another locality.
In a bill of exchange payable at sight or at a certain time after sight, the drawer may stipulate that the sum will bear interest.
In any other bill of exchange, this stipulation is deemed invalid.
The interest rate must be stated in the bill of exchange; if it is not, the clause is deemed invalid.
Interest accrues from the date the bill of exchange is issued unless another date is specified.
A bill of exchange whose amount is written both in words and in figures is valid, in case of discrepancy, for the amount written in words.
A bill of exchange whose amount is written multiple times, either in words or in figures, is valid, in case of discrepancy, only for the smaller amount.
Bills of exchange drawn by non-merchant minors are void with respect to them, without prejudice to the respective rights of the parties, in accordance with the applicable law.
If the bill of exchange bears the signatures of persons incapable of incurring obligations by bill of exchange, forged signatures, signatures of fictitious persons, or signatures which, for any other reason, cannot bind the persons who signed the bill of exchange or in whose name it was signed, the obligations of the other signatories remain valid.
Anyone who affixes their signature to a bill of exchange as a representative of a person for whom they lacked the authority to act is themselves bound by the bill and, if they have paid, has the same rights as the purported principal would have had. The same applies to a representative who has exceeded their authority.
The drawer guarantees acceptance and payment. He may be exempt from the guarantee of acceptance; any clause by which he is exempt from the guarantee of payment is deemed unwritten.