Italy.-All actions relating to bills of exchange and promissory notes signed by traders, merchants, or bankers, for commercial purposes, are prescribed after five years from the date of the protest; or where there has been neither protest or any judicial act, from the day the bill became due (a).

Portugal. The obligation by bills of exchange ceases by the prescription of five years as regards the indorsers and drawer who has provided funds in the hands of the drawee. But only thirty years after as regards a civil action against the drawer who has not provided such funds. Those who avail themselves of the prescription of five years must affirm on oath that they are not debtors; widows, heirs, successors, or assignees, must affirm that they bond fide believe that they owe nothing (b).

Russia.-Prescription in bills of exchange commences in two years from the date of the protest (c).

Spain. Every action upon a bill of exchange is extinct four years after it has become due, whether the bill has been protested or not, provided before the expiration of this time no action has been instituted (d).

(a) Sardinian Code, § 204; Two

Sicilies Code, § 195.

(b) Portuguese Code, § 423.

(c) Russian Code, § 388.

(d) Spanish Code, § 557.