Federal Act on the Amendment of the Swiss Civil Code

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 1009

7. Pledging en­dorse­ment

 

1Where the en­dorse­ment con­tains the com­ment "value for se­cur­ity", "value for pledge" or some oth­er com­ment ex­press­ing a pledge, the hold­er may ex­er­cise all the rights un­der the bill of ex­change; however, any en­dorse­ment is­sued by him only has the ef­fect of a pro­cur­a­tion en­dorse­ment.

2The parties li­able on a bill may not plead against the hold­er such de­fences as are based on his dir­ect re­la­tions with the en­dors­er un­less the hold­er in­ten­tion­ally ac­ted to the det­ri­ment of the ob­lig­or when ac­quir­ing the bill.

 
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