Article 435 of Commercial Code

1 - Ownership of the funds for payment shall pass by operation of law to successive holders of the bill of exchange. 2 - If the funds for payment are less than the amount of the bill of exchange, the holder shall have over those deficient funds all the rights established for him over the full funds. This provision shall apply if the funds for payment consist of a debt that is disputed, uncertain or not due at the maturity of the bill of exchange.