UAE Commercial Transactions Law

Article 558 — Article (558)

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

1. Where the drawee crosses out its acceptance stated on the bill of exchange before returning it, the acceptance shall be deemed rejected, and the crossing out shall be deemed to have been occurred before the bill of exchange is returned, unless otherwise proved. 2. Where the drawee notifies the bearer or any other signatory in writing of its acceptance, it shall be bound vis-à-vis them by such acceptance.

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