Article 502 of Commercial Code

1 - Every action arising from a bill of exchange against its acceptor shall be time-barred upon the lapse of three years from the maturity date. Home Page 1328 Law Index Commercial Law Decree-Law No. 68 of 1980 promulgating the Commercial Law 2 - Actions by the holder against the endorsers or the drawer shall be time-barred upon the lapse of one year from the date of the protest drawn up within the statutory time limit, or from the maturity date if the bill of exchange contains a clause exempting it from protest. - Actions by endorsers against one another or against the drawer shall be time-barred upon the lapse of six months from the day on which the endorser paid the bill of exchange or from the day on which an action was brought against him.