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Book 4 · Commercial transactions  ›  Division 1 · General provisions › Section 365

Section 365

(1) With respect to the form of the endorsement, with respect to the establishment of the holder as the rightful holder and the examination thereof, as well as with respect to the obligation of the holder to surrender the instrument, the provisions of Articles 13, 14 (2), Articles 16 and 40 (3) sentence 2 of the Bills of Exchange Act (Wechselgesetz – WG) apply accordingly.

(2) If the instrument is destroyed or lost, then it is to be declared invalid by way of judicial call procedure. Where the judicial call procedure has been initiated, the party entitled may demand performance from the debtor pursuant to the terms of the instrument, if the party entitled provides security prior to the declaration of invalidity.

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