negotiable-instruments.blogspot.com
Negotiable Instruments Law: XI. PRESENTMENT FOR ACCEPTANCE
http://negotiable-instruments.blogspot.com/2009/05/xi-presentment-for-acceptance.html
ACT NO. 2031 February 03, 1911. XI PRESENTMENT FOR ACCEPTANCE. Sec 143. When presentment for acceptance must be made. - Presentment for acceptance must be made:. A) Where the bill is payable after sight, or in any other case, where presentment for acceptance is necessary in order to fix the maturity of the instrument; or. B) Where the bill expressly stipulates that it shall be presented for acceptance; or. A) Where a bill is addressed to two or more drawees who are not partners, presentment must be made ...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: II. CONSIDERATION
http://negotiable-instruments.blogspot.com/2009/05/ii-consideration.html
ACT NO. 2031 February 03, 1911. Sec 24. Presumption of consideration. - Every negotiable instrument is deemed prima facie to have been issued for a valuable consideration; and every person whose signature appears thereon to have become a party thereto for value. Sec 26. What constitutes holder for value. - Where value has at any time been given for the instrument, the holder is deemed a holder for value in respect to all parties who become such prior to that time. Commercial and Mercantile Law.
negotiable-instruments.blogspot.com
Negotiable Instruments Law: I. FORM AND INTERPRETATION
http://negotiable-instruments.blogspot.com/2009/05/i-form-and-interpretation.html
ACT NO. 2031 February 03, 1911. I FORM AND INTERPRETATION. Section 1. Form of negotiable instruments. - An instrument to be negotiable must conform to the following requirements:. A) It must be in writing and signed by the maker or drawer;. B) Must contain an unconditional promise or order to pay a sum certain in money;. C) Must be payable on demand, or at a fixed or determinable future time;. D) Must be payable to order or to bearer; and. A) with interest; or. B) by stated installments; or. But an order...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: XIII. ACCEPTANCE FOR HONOR
http://negotiable-instruments.blogspot.com/2009/05/xiii-acceptance-for-honor.html
ACT NO. 2031 February 03, 1911. XIII ACCEPTANCE FOR HONOR. Sec 162. Acceptance for honor; how made. - An acceptance for honor supra protest must be in writing and indicate that it is an acceptance for honor and must be signed by the acceptor for honor. Sec 163. When deemed to be an acceptance for honor of the drawer. - Where an acceptance for honor does not expressly state for whose honor it is made, it is deemed to be an acceptance for the honor of the drawer. Sec 167. Protest of bill accepted for h...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: V. LIABILITIES OF PARTIES
http://negotiable-instruments.blogspot.com/2009/05/v-liabilities-of-parties.html
ACT NO. 2031 February 03, 1911. V LIABILITIES OF PARTIES. Sec 60. Liability of maker. - The maker of a negotiable instrument, by making it, engages that he will pay it according to its tenor, and admits the existence of the payee and his then capacity to indorse. Sec 62. Liability of acceptor. - The acceptor, by accepting the instrument, engages that he will pay it according to the tenor of his acceptance and admits:. B) The existence of the payee and his then capacity to indorse. Sec 65. Warranty wh...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: XVII. GENERAL PROVISIONS
http://negotiable-instruments.blogspot.com/2009/05/xvii-general-provisions.html
ACT NO. 2031 February 03, 1911. Sec 190. Short title. - This Act shall be known as the Negotiable Instruments Law. Sec 191. Definition and meaning of terms. - In this Act, unless the contract otherwise requires:. Acceptance" means an acceptance completed by delivery or notification;. Action" includes counterclaim and set-off;. Bank" includes any person or association of persons carrying on the business of banking, whether incorporated or not;. Indorsement" means an indorsement completed by delivery;.
negotiable-instruments.blogspot.com
Negotiable Instruments Law: VI. PRESENTATION FOR PAYMENT
http://negotiable-instruments.blogspot.com/2009/05/vi-presentation-for-payment.html
ACT NO. 2031 February 03, 1911. VI PRESENTATION FOR PAYMENT. Sec 72. What constitutes a sufficient presentment. - Presentment for payment, to be sufficient, must be made:. A) By the holder, or by some person authorized to receive payment on his behalf;. B) At a reasonable hour on a business day;. C) At a proper place as herein defined;. D) To the person primarily liable on the instrument, or if he is absent or inaccessible, to any person found at the place where the presentment is made. Sec 75. Prese...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: XV. BILLS IN SET
http://negotiable-instruments.blogspot.com/2009/05/xv-bills-in-set.html
ACT NO. 2031 February 03, 1911. XV BILLS IN SET. Sec 178. Bills in set constitute one bill. - Where a bill is drawn in a set, each part of the set being numbered and containing a reference to the other parts, the whole of the parts constitutes one bill. Sec 181. Acceptance of bill drawn in sets. - The acceptance may be written on any part and it must be written on one part only. If the drawee accepts more than one part and such accepted parts negotiated to different holders in due course, he ...Sec 182&#...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: IX. FORM AND INTERPRETATION
http://negotiable-instruments.blogspot.com/2009/05/ix-form-and-interpretation.html
ACT NO. 2031 February 03, 1911. IX FORM AND INTERPRETATION. IX FORM AND INTERPRETATION. Sec 126. Bill of exchange, defined. - A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to order or to bearer. Sec 130. When bill may be treated as promissory note. - Where in a bill the drawer and drawee are the...
negotiable-instruments.blogspot.com
Negotiable Instruments Law: XIV. PAYMENT FOR HONOR
http://negotiable-instruments.blogspot.com/2009/05/xiv-payment-for-honor.html
ACT NO. 2031 February 03, 1911. XIV PAYMENT FOR HONOR. Sec 171. Who may make payment for honor. - Where a bill has been protested for non-payment, any person may intervene and pay it supra protest for the honor of any person liable thereon or for the honor of the person for whose account it was drawn. Sec 175. Effect on subsequent parties where bill is paid for honor. - Where a bill has been paid for honor, all parties subsequent to the party for whose honor it is paid are discharged but the paye...Sec 1...
