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    Nego

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    Val Charles C. Ringor
    This document outlines the syllabus for a Negotiable Instruments Law course. It covers several key topics: 1) The governing law for negotiable instruments in the Philippines is Act No. 2031 from 1911. Checks do not have legal tender power but can be accepted by creditors at their discretion. 2) The main kinds of negotiable instruments discussed are checks, which are bills of exchange drawn on a bank payable on demand. Checks represent a debtor-creditor relationship between the bank and depositor. 3) For an instrument to be negotiable, it must meet the requisites of negotiability under the Negotiable Instruments Law and Civil Code, such as being in writing, unconditional

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    Nego

    Uploaded by

    Val Charles C. Ringor
    158 views2 pages
    This document outlines the syllabus for a Negotiable Instruments Law course. It covers several key topics: 1) The governing law for negotiable instruments in the Philippines is Act No. 2031 from 1911. Checks do not have legal tender power but can be accepted by creditors at their discretion. 2) The main kinds of negotiable instruments discussed are checks, which are bills of exchange drawn on a bank payable on demand. Checks represent a debtor-creditor relationship between the bank and depositor. 3) For an instrument to be negotiable, it must meet the requisites of negotiability under the Negotiable Instruments Law and Civil Code, such as being in writing, unconditional

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    This document outlines the syllabus for a Negotiable Instruments Law course. It covers several key topics: 1) The governing law for negotiable instruments in the Philippines is Act No. 2031 from 1911. Checks do not have legal tender power but can be accepted by creditors at their discretion. 2) The main kinds of negotiable instruments discussed are checks, which are bills of exchange drawn on a bank payable on demand. Checks represent a debtor-creditor relationship between the bank and depositor. 3) For an instrument to be negotiable, it must meet the requisites of negotiability under the Negotiable Instruments Law and Civil Code, such as being in writing, unconditional

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    158 views2 pages

    Nego

    Uploaded by

    Val Charles C. Ringor
    This document outlines the syllabus for a Negotiable Instruments Law course. It covers several key topics: 1) The governing law for negotiable instruments in the Philippines is Act No. 2031 from 1911. Checks do not have legal tender power but can be accepted by creditors at their discretion. 2) The main kinds of negotiable instruments discussed are checks, which are bills of exchange drawn on a bank payable on demand. Checks represent a debtor-creditor relationship between the bank and depositor. 3) For an instrument to be negotiable, it must meet the requisites of negotiability under the Negotiable Instruments Law and Civil Code, such as being in writing, unconditional

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    Syllabus in Negotiable Instruments Law

    Dean Lope E. Feble

    I. Governing Law Act No. 2031 (enacted on Feb. 3, 1911 to take effect 90 days after its publication in the Official
    Gazette.
    II. Nature, Purpose and Function of Negotiable Instruments
    Sec. 60, RA 7653
    SECTION 60. Legal Character. Checks representing demand deposits do not have legal tender power and their
    acceptance in the payment of debts, both public and private, is at the option of the creditor: Provided, however, That a
    check which has been cleared and credited to the account of the creditor shall be equivalent to a delivery to the creditor of
    cash in an amount equal to the amount credited to his account.

    Traders Royal Bank vs. CA, 269 SCRA 15 (1997)

    Eduque vs. Ocampo 86 Phil. 216


    Dr. Eduque
    III. Kinds of Negotiable Instruments
    Secs. 184, 126 and 185, in relation to Sec. 1, NIL
    Sec. 184 Check, defined. - A check is a bill of exchange drawn on a bank payable on demand. Except as
    herein otherwise provided, the provisions of this Act applicable to a bill of exchange payable on demand
    apply to a check.
    Moran vs. CA, 230 SCRA, 799
    Concept of Checks and Banking
    Check is a bill of exchange drawn on a bank payable on demand. Thus, a check is a written order addressed to a
    bank or persons carrying on the business of banking, by a party having money in their hands, requesting them to
    pay on presentment, to a person named therein or to bearer or order, a named sum of money.
    Fixed savings and current deposits of money in banks and similar institutions shall be governed by the provisions
    concerning simple loan. In other words, the relationship between the bank and the depositor is that of a debtor and
    creditor. By virtue of the contract of deposit between the banker and its depositor, the banker agrees to pay checks
    drawn by the depositor provided that said depositor has money in the hands of the bank.
    Hence, where the bank possesses funds of a depositor, it is bound to honor his checks to the extent of the amount
    of his deposits. The failure of a bank to pay the check of a merchant or a trader, when the deposit is sufficient,
    entitles the drawer to substantial damages without any proof of actual
    damages.
    A check, as distinguished from an ordinary bill of exchange, is supposed to be drawn against a previous deposit of
    funds for it is ordinarily intended for immediately payment.
    Citytrust Banking Corp. vs. CA, 196 SCRA 553
    Phil. Educ. Co., Inc. vs. Soriano, 39 SCRA 587
    Metrobank vs. CA, 194 SCRA, 169
    IV. Requisites of Negotiability of Negotiable Instruments
    Sec. 1 - 4, 8 - 10, NIL; Art. 1179, Civil Code
    Inciong vs. CA, 257 SCRA 578
    Rep. Planters Bank vs. CA, 216 SCRA 738
    Jimenez vs. Bucoy, 103 Phil. 40
    Ponce vs. CA, 90 SCRA 533; Kalalo vs. Luz, 34 SCRA 337

    Rivera vs. Sps. Chua, G.R. No. 184458, Jan. 14, 2015
    PNB vs. Rodriguez, G.R. No. 170325, Sept. 26, 2008
    HSBC vs. CIR, G.R. No. 166018, June 4, 2014
    V. Matters which does not affect negotiability/ Rules of Construction on Negotiable Instruments
    Secs. 5 7, 11, 12, 17, 24, 73, NIL
    VI. Parties to Negotiable Instruments; Capacities
    a. Promissory Notes
    1. Maker
    2. Payee
    3. Indorser/s
    b. Bill of Exchange
    1.
    2.
    3.
    4.

    Drawer
    Drawee
    Payee
    Indorser

    VII. Consideration in Negotiable Instruments


    Secs. 24 29, NIL

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