718
=U3= Sec783 -- Section 783 Rights derived from an order
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=S=> BGB 783 If a person delivers to a third party a document in which he instructs another person to furnish money , securities or other fungible things to that third party , then the third party is authorised to collect payment from the drawee in his own name ; the drawee is authorised to pay to the payee for the account of the drawer .
=U3= Sec784 -- Section 784 Acceptance of the order
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=S=> BGB 784. 1 If the drawee accepts the order , then he is obliged to pay to the payee ; he may only raise against him such objections as relate to the validity of the acceptance or as follow from the contents of the order or the contents of the acceptance or as the drawee is entitled to rely on directly against the payee .
=S=> BGB 784. 2 Acceptance is made by a written notation on the order . If the notation is placed on the order prior to its delivery to the payee , then acceptance only becomes effective in relation to the payee upon delivery .
=U3= Sec785 -- Section 785 Delivery of the order
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=S=> BGB 785 The drawee is only obliged to pay in return for delivery of the order .
=U3= Sec786 -- Section 786 repealed
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=U3= Sec787 -- Section 787 Order to assume debt
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=S=> BGB 787. 1 In the case of an order to assume a debt , the drawee is released from the debt by the payment to the extent of its amount .
=S=> BGB 787. 2 The drawee is not under a duty to the drawer to accept the order or to perform by paying the payee merely because the drawee is the debtor of the drawer .
=U3= Sec788 -- Section 788 Underlying debt relationship
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=S=> BGB 788 If the drawer issues the order for the purpose of in turn effecting payment to the payee , then the payment , even if the drawee accepts the order , is only effected upon payment by the drawee to the payee .
=U3= Sec789 -- Section 789 Duty of payee to notify
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=S=> BGB 789 If the drawee refuses acceptance of the order prior to the time for payment or if he refuses to make payment , then the payee must notify the drawer without undue delay . The same applies if the payee cannot or will not assert the order .
=U3= Sec790 -- Section 790 Revocation of the order
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=S=> BGB 790 The drawer may revoke the order in relation to the drawee as long as the drawee has neither accepted it in relation to the payee nor has made payment . This also applies if the drawer by the revocation contravenes a duty incumbent upon him in relation to the payee .
=U3= Sec791 -- Section 791 Death or incapacity to contract of a participant
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=S=> BGB 791 The order does not lapse as a result of the death or of one of the participants becoming incapable of contracting .
=U3= Sec792 -- Section 792 Transfer of the order
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=S=> BGB 792. 1 The payee may transfer the order to a third party by contract with that third party , even if the order has not yet been accepted . The declaration of transfer requires written form . For transfer , delivery of the order to the third party is required .
=S=> BGB 792. 2 The drawer may exclude transfer . Exclusion is only effective in relation to the drawee if such exclusion can be derived from the order or if it is notified by the drawer to the drawee before the latter accepts the order or effects payment .
=S=> BGB 792. 3 If the drawee accepts the order in relation to the acquirer , then he may not derive objections from the legal relationship existing between him and the payee . Apart from this , provisions applying to assignment of a claim apply with the necessary modifications to transfer of the order .
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