Where the endorsement contains the comment “value for collection”, “for collection”, “per pro.” or some other comment expressing no more than authorisation, the holder may exercise all the rights under the bill of exchange; however, he may transfer it only by means of a further procuration endorsement.
In this case, the parties liable on a bill may plead against the holder only such defences as are available to them against the endorser.
The authority conferred by the procuration endorsement is not extinguished on the death or incapacity of the person conferring it.
0 commentaries
No commentaries are available for this article yet.
Programmatic access
API and MCP access with filters for source type, region, court, legal area, article, citation, language, and date.