evertheless bound according to the terms of his qualified acceptance;
(b) The bill is dishonoured by non-acceptance.
3.- An acceptance relating to only a part of the sum payable is a qualified acceptance. If the holder takes such an acceptance, the bill is dishonoured by non-acceptance only as to the remaining part.
4.- An acceptance indicating that payment will be made at a particular address or by a particular agent is not a qualified acceptance, provided that:
(a) The place in which payment is to be made is not changed;
(b) The bill is not drawn payable by another agent.
E. The endorser
Article 44
1.- The endorser engages that upon dishonour of the instrument by non-acceptance or by non-payment, and upon any necessary protest, he will pay the instrument to the holder, or to any subsequent endorser or any endorser's guarantor who takes up and pays the instrument.
2.- An endorser may exclude or limit his own liability by an express stipulation in the instrument. Such a stipulation is effective only with respect to that endorser.
F. The transferor by endorsement or by mere delivery
Article 45
1.- Unless otherwise agreed, a person who transfers an instrument, by endorsement and delivery or by mere delivery, represents to the holder to whom he transfers the instrument that:
(a) The instrument does not bear any forged or unauthorized signature;
(b) The instrument has not been materially altered;
(c) At the time of transfer, he has no knowledge of any fact which would impair the right of the transferee to payment of the instrument against the acceptor of a bill or, in the case of an unaccepted bill, the drawer, or against the maker of a note.
2.- Liability of the transferor under paragraph 1 of this article is incurred only if the transferee took the instrument without knowledge of the matter giving rise to such liability.
3.- If the transferor is liable under paragraph 1 of this article, the transferee may recover, even before maturity, the amount paid by him to the transferor, with interest calculated in accordance with article 70, against return of the instrument.
G. The guarantor
Article 46
1.- Payment of an instrument, whether or not it has been accepted, may be guaranteed, as to the whole or part of its amount, for the account of a party or the drawee. A guarantee may be given by any person, who may or may not already be a party.
2.- A guarantee must be written on the instrument or on a slip affixed thereto ("allonge").
3.- A guarantee is expressed by the words "guaranteed", "aval", "good as aval" or words of similar import, accompanied by the signature of the guarantor. For the purposes of this Convention, the words "prior endorsements guaranteed" or words of similar import do not constitute a guarantee.
4.- A guarantee may be effected by a signature alone on the front of the instrument. A signature alone on the front of the instrument, other than that of the maker, the drawer or the drawee, is a guarantee.
5.- A guarantor may specify the person for whom he has become guarantor. In the absence of such specification, the person for whom he has become guarantor is the acceptor or the drawee in the case of a bill, and the maker in the case of a note.
6.- A guarantor may not raise as a defence to his liability the fact that he signed the instrument before it was signed by the person for whom he is a guarantor, or while the instrument was incomplete.
Article 47
1.- The liability of a guarantor on the instrument is of the same nature as that of the party for whom he has become guarantor.
2.- If the person for whom he has become guaranto
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