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.
Interpretation and application must be checked against the official text and current version.
