e has paid and against persons who are liable to the latter on the bill of exchange. Nevertheless, he cannot re-endorse the bill of exchange.
Endorsers subsequent to the party for whose honour payment has been made are discharged.
In case of competition for payment by intervention, the payment which effects the greater number of releases has the preference. Any person who, with a knowledge of the facts, intervenes in a manner contrary to this rule, loses his right of recourse against those who would have been discharged.
Chapter IX
PARTS OF A SET, AND COPIES
1. Parts of a set
Article 64
A bill of exchange can be drawn in a set of two or more identical parts.
These parts must be numbered in the body of the instrument itself; in default, each part is considered as a separate bill of exchange.
Every holder of a bill which does not specify that it has been drawn as a sole bill may, at his own expense, require the delivery of two or more parts. For this purpose he must apply to his immediate endorser, who is bound to assist him in proceeding against his own endorser, and so on in the series until the drawer is reached. The endorsers are bound to reproduce their endorsements on the new parts of the set.
Article 65
Payment made on one part of a set operates as a discharge, even though there is no stipulation that this payment annuls the effect of the other parts. Nevertheless, the drawee is liable on each accepted part which he has not recovered.
An endorser who has transferred parts of a set to different persons, as well as subsequent endorsers, are liable on all the parts bearing their signature which have not been restored.
Article 66
A party who has sent one part for acceptance must indicate on the other parts the name of the person in whose hands this part is to be found. That person is bound to give it up to the lawful holder of another part.
If he refuses, the holder cannot exercise his right of recourse until he has had a protest drawn up specifying:
(1) That the part sent for acceptance has not been given up to him on his demand;
(2) That acceptance or payment could not be obtained on another of the parts.
2. Copies
Article 67
Every holder of a bill of exchange has the right to make copies of it.
A copy must reproduce the original exactly, with the endorsements and all other statements to be found therein. It must specify where the copy ends.
It may be endorsed and guaranteed by aval in the same manner and with the same effects as the original.
Article 68
A copy must specify the person in possession of the original instrument. The latter is bound to hand over the said instrument to the lawful holder of the copy.
If he refuses, the holder may not exercise his right of recourse against the persons who have endorsed the copy or guaranteed it by aval until he has had a protest drawn up specifying that the original has not been given up to him on his demand.
Where the original instrument, after the last endorsement before the making of the copy contains a clause "commencing from here an endorsement is only valid if made on the copy" or some equivalent formula, a subsequent endorsement on the original is null and void.
Chapter X
ALTERATIONS
Article 69
In case of alteration of the text of a bill of exchange, parties who have signed subsequent to the alteration are bound according to the terms of the altered text; parties who have signed before the alteration are bound according to the terms of the original text.
Chapter XI
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