Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ A cheque may be is­sued only where the draw­er holds as­sets with the drawee and has the right to dis­pose of such as­sets by means of cheques pur­su­ant to an ex­pli­cit or ta­cit agree­ment. However, the in­stru­ment’s valid­ity as a cheque is not af­fected by any fail­ure to com­ply with these pro­vi­sions.

² Where the draw­er has as­sets with the drawee cov­er­ing only a por­tion of the cheque amount, the drawee is ob­liged to pay such por­tion.

³ A per­son is­su­ing a cheque without be­ing au­thor­ised by the drawee to dis­pose of the in­struc­ted amount must re­im­burse the bear­er for any dam­age so caused and, in ad­di­tion, five per cent of the un­covered por­tion of the in­struc­ted amount.