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Convention Providing a Uniform Law For Bills of Exchange and Promissory Notes
(Geneva, 1930) The League of Nations
copy @ Lex Mercatoria
Where the drawee who has put his acceptance on a bill has cancelled it before restoring the bill, acceptance is deemed to be refused. Failing proof to the contrary, the cancellation is deemed to have taken place before the bill was restored.
Nevertheless, if the drawee has notified his acceptance in writing to the holder or to any party who has signed the bill, he is liable to such parties according to the terms of his acceptance.
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