UAE Commercial Transactions Law

Article 392 — Article (392)

Book Three: Banking Transactions · Part Two: Current Account

In order for the payments to be entered in a current account, they must: 1. Be in cash or fungible items of one kind, so that clearance may be conducted between them; 2. Have arisen from debts that are actually existing and are of a specific amount; and 3. Have delivered to the payee on basis of ownership.

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