Transfer of Cheque
- 987. Manner of transfer
(1) The provisions of this Act concerning the transfer of order securities apply to the transfer of order cheques, the provisions concerning the transfer of registered securities apply to the transfer of registered cheques and the provisions concerning the transfer of bearer securities apply to the transfer of bearer cheques.
(2) A cheque may also be transferred to the drawer of the cheque or any other party to the cheque.
- 988. Liability of endorser
An endorser shall be liable for payment of the cheque unless the endorser has made an express stipulation on the cheque indicating that the endorser is not liable.
- 989. Preclusion of acquisition of cheque in good faith
If a bearer cheque is stolen from the holder or lost or if the holder of the cheque is dispossessed of the cheque in any other manner against the will of the holder, the possessor of the cheque is not deemed to be the lawful holder of the cheque if the possessor was or should have been aware of such circumstances upon acquisition of the cheque, and the possessor is required to give up the cheque to the holder regardless of the uninterrupted series of endorsements.
- 990. Endorsement after maturity
(1) An endorsement after protest or after submission of an application specified in clause 1000 (2) 2) of this Act or after expiry of the term for presentment is deemed to operate as an assignment of the right of claim specified in § 1000 of this Act to the person to whom the cheque is endorsed.
(2) If an endorsement is not dated, the endorsement is presumed to have been written on the cheque before the drawing up of a protest or submission of an application specified in clause 1000 (2) 2) of this Act or expiry of the term for presentment for payment.
- 991. Payment
(1) A cheque shall be paid upon presentment. Any other stipulation on payment is deemed not to be written on the cheque.
(2) If a cheque is presented for payment before the date of issue specified on the cheque, the cheque shall nevertheless be paid on the date for presentment for payment.
- 992. Term for presentment for payment
(1) A cheque payable in the country of issue shall be presented for payment within eight days as of the date of issue specified on the cheque.
(2) A cheque payable in a country other than the country of issue shall be presented for payment within 20 days as of the date of issue specified on the cheque.
(3) Unless a cheque has been cancelled, the drawee of the cheque may also pay the cheque after the expiry of the term for presentment for payment.
- 993. Acceptance of cheque and obligation to pay
(1) A drawee who has accepted a cheque is required to pay the cheque.
(2) If a drawee of a cheque refuses to accept the cheque, the holder of the cheque does not have the right of claim arising from non-acceptance specified in § 1000 of this Act against the parties to the cheque.
(3) In the case of non-payment of an accepted cheque, the holder of the cheque, even if the holder is the drawer, may make a claim on the cheque against the drawee of the cheque to the extent provided for in subsection 1000 (1) of this Act.
(4) If the drawer and the drawee of a cheque have entered into a contract regarding payment of the cheque, the drawee is liable to the drawer for payment of the cheque according to the contract.
- 994. Cancellation of cheque
A drawer may cancel a cheque after expiry of the term for presentment of the cheque for payment even if the drawer thereby violates the obligations thereof with regard to the payee. The drawer cancels the cheque by giving notice of the cancellation to the drawee of the cheque.
- 995. Prohibition on payment of cheque
(1) If a cheque is not yet paid, the drawer may, regardless of the expiry of the term for presentment for payment, prohibit payment of the cheque by the drawee if the drawer or any other person has been dispossessed of the cheque against the will of the drawer or the person.
(2) If a drawee pays a cheque despite the drawer having notified the drawee of the prohibition to pay the cheque before payment thereof, the drawee may recover the expenses incurred through payment of the cheque by debiting the account of the drawer in the amount of the cheque only if payment took place for reasons other than the fault of the drawee.
- 996. Death or restricted active legal capacity of drawer
The validity of a cheque is not affected by the death of the drawer or by the fact that his or her active legal capacity becomes restricted.
- 997. Verification of endorsements
The drawee of a cheque transferred by means of endorsement is required to verify the uninterrupted series of endorsements, but not the authenticity of the signatures of the endorsers.
- 998. Restrictions on debiting account of drawer upon payment of cheque
(1) In the case of payment of a forged cheque, a cheque with a forged signature or a cheque with the signature of a person not entitled to represent the drawer, the drawee shall not debit the account of the drawer in the amount of the cheque. If the drawee has already debited the account of the drawer under such circumstances, the drawee shall immediately credit the account in the amount of the debit.
(2) The provisions of subsection (1) of this section do not apply if a cheque is signed by a family member of the drawer or a person for whom the drawer is responsible. Neither do the provisions of subsection (1) of this section apply if a cheque is signed by a person to whom the drawer has entrusted a cheque form and the drawer fails to prove that his or her conduct did not contribute to the payment of the cheque.
- 999. Account-only cheque
(1) An account-only cheque is a cheque on the face of which the drawer or the holder has written a stipulation ” kontole kandmiseks ” [for payment into a current account] or any other equivalent stipulation prohibiting the drawee to pay the cheque in cash. In such case, the drawee of the cheque may pay the cheque only by crediting the account of the holder by means of a transfer or offset or in any other manner without making a cash payment.
(2) Any cancellation of the stipulation specified in subsection (1) of this section is deemed not to have occurred.
(3) A drawee who pays a cheque in violation of the provisions of subsection (1) or (2) of this section shall compensate for any damage caused by the violation to the extent of the amount of the cheque.