Art. 1050

1. In the event that the holder fails to comply with the time limits

for presentation of a sight bill or an after-sight bill,

for protest for non-acceptance or for non-payment,

for presentation for payment of bills bearing the comment “No protest”,

he forfeits his rights against the endorser, the drawer and all other parties liable on the bill, with the exception of the acceptor. 2. In the event that the holder fails to comply with the time limit for presentation for acceptance prescribed by the drawer, he forfeits his right of recourse for non-acceptance and for non-payment, unless the wording of the comment shows that the drawer intended to exclude only liability for acceptance. 3. Where the time limit for presentation is indicated in an endorsement, only the endorser may rely on it.