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Negotiable Instruments Law Guide

This document provides an overview of key concepts and cases related to negotiable instruments law in the Philippines. It lists topics like the purpose of negotiable instruments, what laws govern non-NI instruments, the freedom of negotiability, and the basis for determining negotiability. It also summarizes important court cases related to negotiation vs assignment, promissory notes, bills of exchange like checks and their types, parties to NIs, different types of holders, and their rights and defenses. The document serves as a study guide for negotiable instruments law concepts and jurisprudence.

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75 views2 pages

Negotiable Instruments Law Guide

This document provides an overview of key concepts and cases related to negotiable instruments law in the Philippines. It lists topics like the purpose of negotiable instruments, what laws govern non-NI instruments, the freedom of negotiability, and the basis for determining negotiability. It also summarizes important court cases related to negotiation vs assignment, promissory notes, bills of exchange like checks and their types, parties to NIs, different types of holders, and their rights and defenses. The document serves as a study guide for negotiable instruments law concepts and jurisprudence.

Uploaded by

Danica
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Negotiable Instruments Law:

Reading Assignments
(Textbook Reference: De Leon)
Link for Lecture on Articles 1 to 23: https://www.youtube.com/watch?v=o-HoXoF4fzQ&t=400s

Purpose:
 Statement Investment House v. CA, GR 101163

What law governs instruments not considered as NI:


 Garcia V. Llamas, GR 154127

Freedom of Negotiability:
 Traders Royal Bank v. Court of Appeals, GR 93397, Mach 3, 1997

Basis to determine negotiability:


 Caltex (Philippines) v. Court of Appeals, GR 97753, August 10, 1992

Negotiation versus Assignment:


 Sesbreno v. Court of Appeals, GR No. 89252, May 24, 1993

Significance of using the phrase “payable to bearer” or “payable to order”:


 Consolidated Plywood Industries v. IFC Leasing and Acceptance Corporation, GR 72593

Fictitious Payee Rule:


 Philippine National Bank v. Rodriguez, GR 170325 (2008)

Promissory Notes:
 Far East Bank and Trust v. Querimit, GR 148582, January 16, 2002
 Caltex (Philippines) v. Court of Appeals, GR 97753, August 10, 1992

Bills of Exchange:
 Bank Drafts: Citytrust Banking Corporation v, Court of Appeals, GR 92591, April 30,
1991
 Demand Drafts: Republic of the Philippines v. First National Bank of New York, et al.,
GR No. L-16106, December 30, 1961
 Checks: Mitra v. People, GR 191404, July 5, 2010
o Kind of Checks:
 Manager’s Check:
 Philippine National Bank v. Tria, GR 193250, April 25, 2012
 Rizal Commercial Banking Corporation v. HiTri Development
Corporation, GR 192413, June 13, 2012
 Cashier’s Check:
 Republic of the Philippines v. Philippine National Bank, et al., GR
No. L-16106, December 30, 1961
 Certified Check (Section 187, NIL)
 Manager’s check vis-à-vis certified check: Security Bank and Trust
Company v. Rizal Commercial Banking Corporation, G.R. No.
170984, January 30, 2009.
 Stale Check
 International Corporate Bank v. Sps. Gueco, G.R. No. 141968,
February 12, 2001
 Crossed Check
 Traders Royal Bank v. Radio Philippines Network, GR 138510
(2002)
o Simple rules governing checks; checks v. ordinary bills of exchange:
 Sps. Moran v. Citytrust Banking Corporation, GR 105836 (1994)

Not Negotiable Instruments:


 Lee, et al. v. Court of Appeals, GR 117913, February 1, 2002
 Lee v. Rodil, GR 80544
 Surigao Century Sawmill v. Court of Appeals, GR 83889
 Abubakar v. Auditor General, GR L-1405
 Serrano v. Court of Appeals, et al., GR 45125, April 22, 1991
 Philippine Education Co., Inc. v. Soriano, et al., GR No. L-22405, June 30, 1971

Ante-dating/post-dating negotiable instruments:


 Firestone Tire & Rubber Co of the Philippines v. Chavez, GR L-17106, October 19, 1966

Section 14: Incomplete and delivered instrument:


 Patrimonio v. Gutierrez, GR 187769
 Dy v. People. GR 158312

Section 15: Incomplete and undelivered instrument


 Bank of America NT & SA v. Philippine Racing Club, GR 150228, July 30, 2009

Section 16: Complete and undelivered instrument; Delivery, when effectual and when
presumed
 Development Bank of Rizal v. Sima Wei, et al., G.R. No. 85419 March 9, 1993
 Asia Brewery Inc, et al. v. Equitable PCI Bank, GR 190432, April 25, 2017

Parties:
 Immediate Parties
 Remote Parties
 Prior Parties

Holders:
 Holders Simply (Sec. 51)
 Holders for Value (Sec. 26)
 Holders in Due Course (Sec. 52, 57, 59)
o Significance as to:
 Rights
 Defenses
 Holders other than Holder in Due Course (Section 58)
o Shelter Principle (Holders through a Holder in Due Course)
o Reacquirers

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