UAE Commercial Transactions Law

Article 557 — Article (557)

Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter Four: Acceptance of Bill of Exchange: Article (550)

1. Where the drawee accepts the bill of exchange, he shall be bound to pay its value on the maturity date. 2. In the event of non-payment, the bearer may, even if he is the drawer himself, have recourse against the drawee acceptor by instituting a direct action arising from the bill of exchange and claiming all the rights which may be legally claimed.

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