Article 508 of Commercial Code

1 - The provisions relating to bills of exchange concerning multiple originals and copies, endorsement, maturity, payment, recourse for non-payment, the impermissibility of granting a grace period for payment, precautionary attachment, protest, calculation of time limits, business days, recourse by drawing Home Page 1329 Law Index Commercial Law Decree-Law No. 68 of 1980 Promulgating the Commercial Law a recourse bill of exchange, payment by intervention, and limitation periods shall apply to promissory notes insofar as they do not conflict with their nature. 2 - The rules relating to bills of exchange payable at the domicile of a third party or at a place other than the drawee's domicile, stipulation of interest, discrepancies in the particulars concerning the amount payable, and the consequences of signatures by persons lacking capacity to incur obligations, non-binding signatures, or the signature of an unauthorised person or a person exceeding the limits of his authority shall also apply to promissory notes. 3 - The provisions relating to guarantees by aval shall likewise apply to promissory notes, subject to the proviso that if the wording of such guarantee does not state the name of the guaranteed party, the guarantee shall be deemed to have been given for the benefit of the maker of the note.