CHAPTER VII. - Lost Instruments

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Article 79

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1. A party who has paid a lost instrument and to whom the instrument is subsequently presented for payment by another person must give notice of such presentment to the person whom he paid.

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2. Such notice must be given on the day the instrument is presented or on one of the two business days which follow and must state the name of the person presenting the instrument and the date and place of presentment.

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3. Failure to give notice renders the party who has paid the lost instrument liable for any damages which the person whom he paid may suffer from such failure, provided that the damages do not exceed the amount referred to in article`70 or article`71.

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4. Delay in giving notice is excused when the delay is caused by circumstances which are beyond the control of the person who has paid the lost instrument and which he could neither avoid nor overcome. When the cause of the delay ceases to operate, notice must be given with reasonable diligence.

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5. Notice is dispensed with when the cause of delay in giving notice continues to operate beyond thirty`days after the last day on which it should have been given.

UNCITRAL Convention on International Bills of Exchange and International Promissory Notes, 1988

CHAPTER I. - Sphere Of Application And Form Of The Instrument

CHAPTER II. - Interpretation

Section 1. - General provisions

Section 2. - Interpretation of formal requirements

Section 3. - Completion of an incomplete instrument

CHAPTER III. - Transfer

CHAPTER IV. - Rights And Liabilities

Section 1. - The rights of a holder and of a protected holder

Section `2. - Liabilities of the parties

A. - General provisions

B. - The drawer

C. - The maker

D. - The drawee and the acceptor

E. - The endorser

F. - The transferor by endorsement or by mere delivery

G. - The guarantor

CHAPTER `V. - Presentment, Dishonour By Non-Acceptance Or Non-Payment, And Recourse

Section `1. - Presentment for acceptance and dishonour by non-acceptance

Section `2. - Presentment for payment and dishonour by non-payment

Section `3. - Recourse

A. - Protest

B. - Notice of dishonour

Section 4. - Amount payable

CHAPTER VI. - Discharge

Section 1. - Discharge by payment

Section 2. - Discharge of other parties

CHAPTER VII. - Lost Instruments

CHAPTER VIII. - Limitation (Prescription)

CHAPTER IX. - Final Provisions

[Post Provisions]

Annex - Explanatory Note by the UNCITRAL Secretariat on the United Nations Convention on International Bills of Exchange and International Promissory Notes *[NOTE]

B. - Salient Features Of The Convention

Notes

Endnotes

Metadata

Manifest

CHAPTER VII. - Lost Instruments

Article 79