UAE Commercial Transactions Law

Article 545 — Article (545)

Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter Three: Consideration for Payment of the Bill of Exchange: Article (542)

1. The title to the consideration for payment shall pass ipso jure to the consecutive bearers of the bill of exchange. 2. Where the consideration for payment is less than the sum of the bill of exchange, the bearer shall be vested with regard to such shortage in consideration with all the rights vested upon him for the entire consideration. 3. The provision stipulated in Clause (2) of this Article shall apply in the event that the consideration for payment is disputable, uncertain or undue on the maturity date of the bill of exchange.

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