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124
BILLS OF EXCHANGE.
P. iv., Ch. x.
Place of
protest of
bills of
exchange.
payable by Russian subjects may therefore be protested by them.
In all other countries bills of exchange must be protested by local
Notaries Public, for there the Russian State Consuls have not these
powers. When protesting bills of exchange, Russian State Consuls
must observe the following provisions of the Russian Code of
Regulations to bills of exchange.
The Consul must present the bill for payment on the same day
when it is placed in his hands and if not paid by 3 p.m. the following
day, the bill must be protested, the protest being entered in the
Consular books and an endorsement to the same effect made on the bill
itself. This endorsement of the bill constitutes the actual protest,
but in order to give it legal force a special document requires to be
executed not later than the day after protest is noted.1 It must
contain (1) a copy of the bill, with all signatures, inscriptions and
endorsements thereon ; (2) the name and description of the person
noting the protest and of the person against whom the protest is
made ; (3) a declaration that the bill was presented to the drawee
by the Consul or, if not, that, for reasons given, it was not possible
to do so ; (4) the answer given to the demand for payment, or a
statement to that effect if no answer was made ; (5) the place and
date of presentation of the bill or when it was found impossible to
present it ; (6) the date of the bill; (7) signature and seal of the
Consul or of the person acting for him.2
The deed of protest must be entered by the State Consul word
for word in the Consular books, the amount of Consular fees being
inscribed on the document itself. It is then delivered to the person
by whom protest was demanded. On the bill itself the Consul must
state when the deed of protest was drawn up and indicate the number
of the entry in the Consular book.3
The right of foreigners to undertake liabilities on bills of exchange
is decided in accordance with the laws of the State to which they
belong. A foreigner who does not possess such right in his own
country is nevertheless responsible for bills signed by him in Russia,
unless the laws of his State expressly prohibit his undertaking liabilities
by signing bills.4
According to Russian Regulations as to Bills of Exchange, they
must be protested at the place where their payments are to be made ;
for instance, if a bill be drawn for payment in Moscow, protest for
non-payment of same must be made in Moscow, and not in any other
place, or abroad.
As regards the form to be observed in drawing up and in signing
bills of exchange, such form is regulated by the laws of the country
where the bill is given. If, however, a bill drawn up abroad by a
Russian or a foreigner, or the inscriptions made on such bill abroad,
are in accordance with the Russian Regulations as to bills of exchange,
the fact that they are not in accordance with foreign laws cannot
serve as ground for contesting the validity in Russia of the bill or of
inscriptions made upon it.5
Regulation as to Bills of Exchange, Art. 68.
Ibid., Art. 69. 3 Ibid., Art. 70.
Ibid., Art. 82. 5 Ibid., Art."83.
104.
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