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    NIL Outline 2019-2020

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    Ray Joshua Valdez
    This document provides an overview of negotiable instruments law in the Philippines. It discusses key concepts like the definition of negotiable instruments and their governing laws. It also outlines the requisites of negotiability, including that an instrument must be in writing, contain an unconditional promise to pay a sum certain, and be payable on demand or at a fixed time. The document further examines topics such as transfer and negotiation of instruments, the rights and liabilities of various parties, defenses, enforcement of liability, discharge of instruments, and specifics regarding checks. It provides case references for various points throughout.

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    NIL Outline 2019-2020

    Uploaded by

    Ray Joshua Valdez
    79 views3 pages
    This document provides an overview of negotiable instruments law in the Philippines. It discusses key concepts like the definition of negotiable instruments and their governing laws. It also outlines the requisites of negotiability, including that an instrument must be in writing, contain an unconditional promise to pay a sum certain, and be payable on demand or at a fixed time. The document further examines topics such as transfer and negotiation of instruments, the rights and liabilities of various parties, defenses, enforcement of liability, discharge of instruments, and specifics regarding checks. It provides case references for various points throughout.

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    This document provides an overview of negotiable instruments law in the Philippines. It discusses key concepts like the definition of negotiable instruments and their governing laws. It also outlines the requisites of negotiability, including that an instrument must be in writing, contain an unconditional promise to pay a sum certain, and be payable on demand or at a fixed time. The document further examines topics such as transfer and negotiation of instruments, the rights and liabilities of various parties, defenses, enforcement of liability, discharge of instruments, and specifics regarding checks. It provides case references for various points throughout.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    79 views3 pages

    NIL Outline 2019-2020

    Uploaded by

    Ray Joshua Valdez
    This document provides an overview of negotiable instruments law in the Philippines. It discusses key concepts like the definition of negotiable instruments and their governing laws. It also outlines the requisites of negotiability, including that an instrument must be in writing, contain an unconditional promise to pay a sum certain, and be payable on demand or at a fixed time. The document further examines topics such as transfer and negotiation of instruments, the rights and liabilities of various parties, defenses, enforcement of liability, discharge of instruments, and specifics regarding checks. It provides case references for various points throughout.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    NEGOTIABLE INSTRUMENTS LAW

    Atty. Catherine A. Camposano-Remigio, CPA

    A. Basic Concepts
    1. Definition of Negotiable Instrument
    2. Governing Laws
    3. Functions of Negotiable Instruments
    4. Features of Negotiable Instruments
    5. Kinds of Negotiable Instruments (Secs. 17(e) 126, 130, 184, NIL)
     Chan Wan vs. Tan Kim, G.R. No. L-15380, September 30, 1960
     Metropolitan Bank and Trust Company vs. Chiok, G.R. No. 172652, November
    26, 2014

    B. Negotiability
    1. Factors in Determining Negotiability
    2. Parties to Negotiable Instruments
    3. Distinctions from Non-Negotiable Instruments
     Caltex, Inc. vs. Court of Appeals, G.R. No. 97753, August 10, 1992
     Banco De Oro Savings and Mortgage Bank vs. Equitable Banking Corporation,
    G.R. No. L-74917, January 20, 1988

    C. Requisites of Negotiability (Sec.1, NIL)


    1. Must be in Writing Signed by the Maker or Drawer (Sec. 191, NIL)
    2. Must be Contain an Unconditional Promise or Order to Pay a Sum Certain in Money
    (Secs. 2, 3, 17a, NIL; R.A. No. 8183)      
    3. Must be Payable on Demand or at a Fixed or Determinable Future Time (Secs. 4, 7,
    NIL)
    4. Must be Payable to Order or Bearer (Secs. 8,9, NIL)
    5. Identification of the Drawee (Sec. 128, NIL)
     Abubakar vs. Auditor General, G.R. No. L1405, July 31, 1948
     Metropolitan Bank and Trust Company vs. CA, G.R. No. 88866, February 18,
    1991
     .PNB vs. Rodriguez, G.R. No. 170325, September 26, 2008

    D. Interpretation of Negotiable Instruments


    1. Omissions Affecting Negotiability (Sec. 6, NIL)
    2. Additional Provisions Affecting Negotiability (Sec. 5, NIL)
    3. Rules in Interpretation of Negotiable Instruments (Secs. 10, 17, NIL)
     Spouses Evangelista vs. Mercator Finance Corp., G.R. No. 148864, August 21,
    2003
     Ilano vs. Hon. Espanol, G.R. NO. 161756, December 16, 2005

    Suggested Reference Books:

    1. The Philippine Negotiable Instruments Law by Hector De Leon and Hector De Leon, Jr.
    2. Notes and Cases on Negotiable Instruments Law and Banking Law by Timoteo B. Aguino, 2018 Edition

    NEGOTIABLE INSTRUMENTS LAW


    Atty. Catherine A. Camposano-Remigio, CPA

    E. Transfer and Negotiation


    1. Modes of Transfer
    2. Definition of Negotiation (Secs. 30 and 191, NIL)
    3. Ways of Negotiation
    4. Concept of Delivery
    5. Indorsement (Secs. 21, 31, 32, 34, 35, 36, 37,38, 39,40, 42, 43, 44, 45, 46, 48, 49
    NIL)
    6. Negotiation by a Prior Party (Sec. 50, NIL)
     Salas vs. Court of Appeals , G.R. No. 76788, January 22, 1990

    F. Holders
    1. Concept
    2. Requisites of Holder in Due Course (Secs. 52, 53, 54, 56, 57 NIL)
    3. Presumption of Due Course Holding (Sec. 59, NIL)
    4. Rights of Holders in Due Course (Sec. 57, NIL)
    5. Shelter Rule (Sec. 58, NIL)
     Yang vs. Court of Appeals, G.R. No. 138074, August 15, 2003

    G. Liability of Parties
    1. Primary and Secondary Liability Distinguished
    2. Liability Distinguised from Warranties
    3. Liabilities and Warranties of Parties (Secs. 29, 60, 61, 62, 64, 65, 66, 67, 127, NIL)
     Ang s. Associated Bank, G.R. No, 146511, September 5, 2007
     Far East vs. Gold Palace Jewelry, G.R. No. 168274, August 20, 2008

    H. Defenses
    1. Real Defenses Distinguished from Personal Defenses
    2. Real Defenses (Secs. 15, 22, 23, 124, 125 NIL)
    3. Personal Defenses (Secs. 12, 13, 14, 16, 28, 55, 56, 57, NIL)
     Samsung Construction vs. Far East Bank and Trust Company, G.R. No. 129015,
    August 13, 2004
     Metropolitan Bank and Trust Company vs. Cablizo, G.R. No. 154469, December
    6, 2006
     Bank of America vs. Philippine Racing Club, G.R. No. 150228, July 30, 2009

    NEGOTIABLE INSTRUMENTS LAW


    Atty. Catherine A. Camposano-Remigio, CPA

    I. Enforcement of Liability (Secs. 70-118, 132-177, NIL)


    1. Persons with Primary and Secondary Liabilities
    2. Procedures in Enforcing Liability
    3. Presentment for Payment
    4. Instances where presentment is excused
    5. When delay in presentment is excused
    6. Notice of Dishonor
    a. When dishonor of the instrument occurs
    b. Who should give notice
    c. Form of notice
    d. To Whom Notice is Given
    e. Time an Place of Notice
    f. When notice is excused or unnecessary
    g. When delay in giving notice excused
     Arceo vs. People, G.R. No. 142641, July 17, 2006
     Allied Banking Corporation vs. Court of Appeals, G.R. No. 125851, July 11, 2006

    J. Discharge of Instrument
    1. Concept of Discharge
    2. How Instrument is Discharged (Secs. 88, 119, 122, 123, NIL)
    3. Discharge of Persons Secondarily Liable (Sec. 120, NIL)
    4. Right of Party who Discharges the Instrument (Sec. 121, NIL)

    K. Checks
    1. Definition
    2. Distinguished from Draft
    3. Relationship between Drawer, Drawee, and Payee
    4. Kinds of Checks
    a. Cashier’s and Manager’s Check (BSP Circulars 250 Series of 2000, and 291
    Series of 2001)
    b. Certified Check (Secs. 187, 188, 189, NIL)
    c. Crossed Check (Art. 541, Code of Commerce)
    d. Memorandum and Traveller’s Checks
    5. When Required to be Presented for Payment (Sec. 185, NIL)
    6. Effect of Death of Drawer
    7. Pertinent Philippine Clearing House Corporation Rules
     Villanueva vs. Nite, G.R. No. 148211, G.R. No. 148211, July 25, 2006
     Equitable PCI Bank vs. Ong, G.R. No. 156207, September 15, 2006
     Security Bank and Trust Company vs. Rizal Commercial Banking Corporation,
    G.R. No. 170984, January 30, 2009

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