Full resolution (JPEG) - On this page / på denna sida - Pages ...
<< prev. page << föreg. sida << >> nästa sida >> next page >>
Below is the raw OCR text
from the above scanned image.
Do you see an error? Proofread the page now!
Här nedan syns maskintolkade texten från faksimilbilden ovan.
Ser du något fel? Korrekturläs sidan nu!
This page has never been proofread. / Denna sida har aldrig korrekturlästs.
P. iv., Сн. x.
BILLS OF EXCHANGE.
123
but the stamp duty is paid only on half of the amount shown in the
bill of exchange. The payment of stamp duty on such bills must
be effected by its first receiver and before any operation is performed
with the bill (protest, endorsement, etc.). Payment of the stamp
duty may be effected either by affixing the bill to Russian stamp
paper, or by affixing revenue stamps to the necessary amount, or by
payment of money to the State exchequer.1
From the above it appears that the payment of the Russian stamp
duty is also necessary if a bill of exchange made out abroad on foreign
stamp paper and drawn on a person residing in Russia, be accepted
by the latter in Russia and endorsed for payment abroad.
Bills of exchange must contain : (1) The place and date.
(2) Description of the document as a bill of exchange. If the bill
is not written in Russian, the word corresponding to the Russian
word for bill of exchange must be used. (3) The obligation of the
giver of the bill to pay the amount mentioned in the bill. (4) The
family name and firm of the person to whom the bill is given and
who is to be designated as first holder of the bill. (5) Statement of
the amount to be paid. (6) Statement of the term when payment is
to be made. (7) Signature of the writer of the bill.2
Bills of exchange payable at certain dates must be presented for
payment at such dates or during the following two days, not counting
holidays.3
Sight bills, if they mention a certain time, can be presented for
payment before that time. If they contain no mention of such time
they must be presented for payment not later than 12 months after
they are issued.4
Bills of exchange must be presented for payment at the place
indicated in the bill, or, if no place is indicated, at the business place
or residence of the debtor.5
The holder of a bill of exchange can only demand payment in
currency which is legal tender. Bills of exchange given abroad and
in foreign currency, but payable in Russia, and bills given in Russia
and payable abroad, if presented for payment in Russia, must be
liquidated in Russian currency at the rate of exchange stipulated
in the bill. If no rate of exchange is mentioned in the bill, payment
is made according to the current rate and in accordance with the
rules for calculating such rate which obtain at the place of payment,
or at the nearest commercial exchange. In such cases the rate of
exchange of the preceding day, not counting holidays, is taken.6
If the bill is not paid when presented it should be protested, in
order to retain its validity as a bill of exchange.7
The bill must be protested before the expiration of the times
indicated above.
According to the Consular Conventions concluded by Russia
with France, Germany, Italy and Spain, Russian State Consuls in
these countries have the powers of Notaries Public and bills of exchange
1 Art. 119 and 131 of the Russian stamp duty Regulation, Edition 1903.
2 Regulations as to Bills of Exchange, Art. 3. Svod Zakonov, Vol. XI.,
Part II., Edition 1903.
3 Ibid., Art. 41. 4 Ibid., Art. 42. 5 Ibid., Art. 44.
6 Ibid., Art. 46. 7 Ibid., Art. 48.
<< prev. page << föreg. sida << >> nästa sida >> next page >>
