1648. A debtor who has issued a bearer instrument is bound to pay the debt attested thereby to any bearer who hands over the instrument to him, except where he has received notification of a judgment ordering him to withhold payment thereof.
He may not set up any defenses against the bearer other than defenses concerning the nullity of or a defect in the instrument, those founded on an express stipulation in the instrument or such defenses as he may raise against the bearer personally.
1991, c. 64, a. 1648; I.N. 2014-05-01; 2016, c. 4, s. 198.