UAE Commercial Transactions Law

Article 624 — Article (624)

Book Four: Commercial Papers · Part Two: Promissory Note

1. A promissory note maker shall be liable in the same manner as the acceptor of a bill of exchange. 2. A promissory note which falls due at a fixed period after sight shall be presented to the maker, within the time limit stipulated in Article (564) above, in order to be annotated as it has been sighted, and such annotation shall be dated and signed by the maker. 3. The term of sight shall begin only from the date of such annotation. 4. Where the maker refrains from affixing such annotation, his refusal shall be established by virtue of a protest of non-acceptance and the date of such protest shall be the effective term of the sight.

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