which he is a citizen, and if these laws recognize the laws of some other country as binding the latter apply. If persons have no ca pacity to draw a bill in their own country but can draw bills according to the law of another country, they are responsible for the obligations thus contracted in the territory of the latter.

The rule of locus regit actum applies to the form of a bill of exchange, the laws of the State in whose territory the bill is signed being applicable. The law provides further that in order to make sure that drafts drawn abroad by Polish citizens on foreign' citizens are valid it is sufficient to observe the present rules.

The form of and the limits of time for protest, as well as the form of other proceedings necessary for the exercise or preservation of rights arising out of a bill of exchange, are regulated by the laws of the State within whose territory the protest must be drawn up or the proceedings in question taken.

The validity of the declarations of a bill which are contracted in Poland according to the present regulations is not affected by the fact that other declarations contracted elsewhere are not in conformity with the law of the place where contracted so long as such declarations comply with the present regulations, both as to time and place.

PROTEST

Protest is executed by a notary or by a court of justice, and must indicate:

1. The name of the person demanding protest and that of the person against whom protest is made.

2. A statement to the effect that the person against whom the protest is made has not complied with the notification forwarded to him, or that the person in question could not be found, or that it was impossible to find the place of business or residence of the person in question.

3. An indication of the place and date on which notification was presented or efforts were made to notify the party in question.

4. An indication of how many and which copies of the bill were presented. 5. The signature of the authority making the protest and the official seal and serial number of the protest.

If the drawee demands presentment of the bill for acceptance on the succeeding day, this should be indicated on the protest. Presentment of a bill, demand for the delivery of a part or the original of a set, and other necessary precautionary measures must be undertaken, unless otherwise indicated on the bill, in the place of business of the debtor, or, if this place can not be found, in his dwelling place.

The protesting party is obliged to search for the place of business or habitation of the persons against whom claims are being made and is responsible for losses caused by lack of due effort and attention. However, negligence or inaccuracy in the search can not affect the validity of the protest.

The protest must be written on the reverse side of the bill or on a separate sheet attached to the bill. If there are no declarations on the reverse side, the text of the protest must begin at the margin of the bill; otherwise directly after the last declaration. If the protest is written or continued on a separate supplementary sheet, "allonge." this sheet must be attached to the bill in such a manner as to leave no space on the reverse side of the bill, and the place where the sheet

is attached to the bill must be sealed with an official seal or written over with the text of the protest.

One protested document is sufficient even when the claim is based on one bill against a large number of persons. If the debtor is presented at the same time with several parts of the bill, or with the original and a part, it is sufficient to indicate protest on one of the parts or on the original. On the other parts the protesting party notes where protest is made and signs.

If protest is made owing to partial refusal to accept a bill, a copy of the bill must be made containing all the indorsements and declarations, and the protest must be inscribed on this copy or on the supplementary sheet, while the fact that protest has been made must be indicated on the original. Protest made owing to nondelivery of the original when demanded must be inscribed on the copy or its attached sheet.

The protesting party must receive payment and give a receipt when the party who is proceeded against offers to pay the amount due. If the person against whom protest is made can not be found at his place of business or residence the protesting party must leave a notification of protest containing the name and place of habitation of the holder of the bill, the exact wording of the bill, and the name. and official address of the protesting party.

In taking protective measures the notary may make use of assistants who may be authorized to act by the district court upon the proposal of the notary. The notary is responsible for his assistants. The protesting party is obliged to keep copies of protests together on file with an indication of the exact characteristics of the bill, properly marked with a serial number, and in chronological order. Interested persons may obtain ordinary or certified copies of these documents.

LOST BILLS

A person who has mislaid or lost his bill of exchange may demand at the district court of the place where the bill is to be paid that the lost bill be recognized as null and void. The petition must state the exact wording of the bill as well as the circumstances of the loss and the legal provisions on which the claim for rendering the bill null and void is based.

The court will publish a notification in the official publication devoted to judicial information, as well as in the local publication devoted to registering notifications, in order to advise the present holder to present the bill to the court within 60 days. This term of 60 days begins with the date of maturity of the bill, unless the announcement is made after maturity or no date of maturity is indicated on the bill, in which instances the period runs from the date of the announcement. The last day of this period must be indicated in full, according to the date on the calendar.

If the new holder of the lost bill does not make himself known within the prescribed period, the court will decree the bill null and void. If, on the other hand, the present holder of the bill appears before the decree has been issued, the court will withhold its decision until after the parties have been heard and the bill has been delivered to the petitioner. The court will advise the drawee and all parties to the bill indicated by the petitioner of the action taken.

The drawee and other parties liable on the bill who pay the instru ment pending the decision of the court do so at their own risk. They may liberate themselves from all further obligation by depositing the amount of their liability with the court.

After publication of the anouncement for presentation of a bill of exchange, and after maturity, the person demanding that the bill be made null and void may claim from the acceptor a deposit which is to be made at the court or payment against the obligation. The debtor may elect one or the other. If he makes a deposit at the court he is freed from further obligation. If the acceptor refuses to do either, the petitioner may make protest on the basis of the copy of the bill and proceed against the drawer or indorsers. If the court declares the bill to be null and void, the parties are released from liability thereon.

PROMISSORY NOTES

Promissory notes, or personal bills of exchange as they are known in Polish law, must in the first place contain the name "bill of exchange," or its equivalent in the language used, in the text of the instrument. It must furthermore contain an unconditional promise to pay an indicated sum of money, the date and place of making, the date of maturity, the place of payment, the name of the person to whom or to whose order payment is to be made. and the signature of the drawer.

Unless the instrument contains the above-mentioned indications it is not valid as a promissory note, except in the following cases: (1) If there is no indication of the date of maturity, the note will be deemed to be payable at sight: (2) unless a place of payment is specifically stated, the maker's residence will be considered as the place of payment; (3) if the place of making is not specified. it will be assumed to be the place mentioned after the name of the maker.

A person who has placed his signature upon an instrument which fails to include all the requisites of a promissory note will, nevertheless, bear the same responsibility as upon a valid note, unless he is able to prove that the instrument had been subsequently altered against his will. He is liable in full to a good-faith purchaser who acquired the bill after it was filled in despite the irregularities in the text of the bill.

The rules described under "Bills of exchange" apply to promissory notes in regard to indorsement, "aval," times of payment. payment, recourse for nonacceptance and nonpayment, intervention for honor, parts of a set and copies, forgeries, prescription, unjust enrichment, capacity of parties, and the other rules under "General regulations," and the conflict of laws.

Promissory notes are also governed by the same rules as bills of exchange with regard to payment in a specified place (domiciled notes), provision for interest in the note, preference of words to figures when there is a discrepancy between them in the amount due, the validity of the signatures of capable parties although one signatory was incapable, the liability of an agent without authority or who exceeds authority, and in the matter of protests, with the exception that protest for a lost note must be made against the maker.

The maker of a promissory note has the same liability as the acceptor of a bill of exchange. Promissory notes payable at a certain time after sight must be presented for payment within six months of their date for recognition by the maker. The period after sight runs from the date of such recognition, as confirmed by the signature of the maker. If the maker refuses to acknowledge his debt or to mark the date, this refusal must be duly confirmed by protest.

CHECKS

The new regulations governing the use of checks in Poland were promulgated in decree No. 297, dated November 15, 1924, and became effective on January 1, 1925. They form a synthesis of the Austrian, German, and Russian laws which they replace and contain no important innovations. It is also reported by Consul General T. Jaeckel, Warsaw, that in general, the new law has met with approval, the only provision adversely criticized being the requirement to present for payment within 60 days checks which are drawn beyond the confines of Europe. This limitation is considered too short for checks coming from countries so distant as the United States.

In contrast to the negotiable instruments law, which contains only five articles (185-189) relating specifically to checks, the first of which extends to checks the application of the provisions for bills of exchange payable on demand, unless otherwise provided, the Polish law contains 57 articles which relate solely to such instruments. In general, the Polish law of checks follows the law of bills and notes previously discussed.

While in article 185 of the negotiable instruments law the check is defined as "a bill of exchange drawn on a bank payable on demand," in Polish law the check is regarded in the light of the German concept as an instrument distinct from a bill of exchange. In Poland, as in Germany, an instrument is not a check unless it is so designated by inserting the word "check." or its foreign equivalent if drawn in another language, in the text of the document. A check is regarded, nevertheless, as a species of draft, and the payee or holder of the check is not, as such, a creditor of the bank, the latter institution not being bound to pay the instrument unless the drawer has provided it with funds. (See below, "Lack of cover.") Instead of defining a check, the Polish law enumerates its essential constituents. It must contain in addition to its designation as a check, an order for the unconditional payment of the indicated sum of money, the name of the drawee, the place and date of drawing, and the signature of the drawer. If the place of drawing is not specifically indicated, it will be presumed to be the place indicated after the signature of the drawer.

A check is always payable at sight, and it is unnecessary to insert words to that effect. If a statement for payment at any other time is inserted, it invalidates the check.

The drawee may be indicated as (1) a Government or municipal credit establishment; (2) a credit enterprise or savings bank under the supervision of the State, or of municipal institutions, or of any other public-private union; or (3) registered firms whose name indi

cate banking activities as being its object. Unless the instrument complies with the preceding requirements as to contents, indication of drawee, as well as when payable, it is not valid as a check.

One may draw a check to himself or order, to the order of another person, to another person or bearer, not to order, or simply to bearer. If a check is drawn to a specific person and not to his order, he alone acquires any rights in the check. If no payee is named. the check will, nevertheless, be paid at sight to the holder. In no case, however, may a person draw a check on himself, thus appearing as both drawer and drawee.

Ordinarily a check is payable at the place where it is drawn, but it may either indicate another place specifically or insert it after the name of the drawee. The sum as indicated in words is preferred to that as indicated by figures in case there is any discrepancy between the two, but if the ambiguity can not be solved in this way because of repeated discrepancy between words and figures, the check is invalid.

A check can not be accepted, and a note of acceptance placed upon a check will be disregarded. The reason for this rule is the desire to keep the check from becoming an instrument of credit like a bill of exchange. The practice of certifying checks is unknown.

INDORSEMENT

A check drawn to a definite payee or order may be transferred by indorsement, and a bearer check is transferred by simple delivery. However, if the check is drawn payable to a specific person only. it can not be transferred except by way of assignment.

The effect of indorsement is to transfer all rights and powers under the check to the indorsee, embracing the primary right to receive payment at the expense of the drawer, and, secondarily, the rights of recourse.

An indorsement must be unconditional and for the total amount of the check. An indorsement to the name of the drawee has the value of a receipt, unless the drawee has several places of business and the check is indorsed to the enterprise situated in some other place other than that of payment. An indorsement by the drawee is invalid.

An indorsement may be either special or in blank and may be placed either on the reverse side of the check itself or on a supplementary sheet, "allonge." A check indorsed in blank resembles very closely in practice a bearer check.

If the indorsement is in blank, the holder of the check may (1) fill in the indorsement with his own or another person's name, (2) indorse the check to another person or in blank, or (3) transfer the check to another person without filling in the blank indorsement or without indorsing it himself.

The legal owner of the check will be considered as that person holding the check who is able to prove his right by an unbroken chain of indorsements, even though the last indorsement may be in blank. The chain must be unbroken; a mere series of indorsements will not suffice. The first indorsement must be signed with the name of the payee and every subsequent indorsement with that of the person named as indorsee in the one immediately preceding it. When