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    Dates, Delivery, Consideration: at Ty. Desiree Von D. Enriquez

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    suigeneris28
    Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.

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    Dates, Delivery, Consideration: at Ty. Desiree Von D. Enriquez

    Uploaded by

    suigeneris28
    20 views7 pages
    Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.

    Original Description:

    consideration, delivery

    Original Title

    NIL

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    Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    20 views7 pages

    Dates, Delivery, Consideration: at Ty. Desiree Von D. Enriquez

    Uploaded by

    suigeneris28
    Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.

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    © All Rights Reserved
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    Dates, Delivery, Consideration

    AT TY. DESIREE VON D. ENRIQUEZ


    DATES
    • PRESUMPTION: Section 11 of NIL
    • The lack of date in an instrument will not render it invalid or non-
    negotiable (Section 6[a])
    • If the instrument contains a date, that date is presumed to be the
    date when it was made, drawn, accepted, or indorsed
    • ANTE-DATING or POST-DATING: Section 12 of NIL
    • Ante-date
    • Post-date
    DATES
    • When date may be inserted: Section 13 of NIL
    WHAT: undated instrument
    WHEN: (a) instrument is expressed to be payable at a fixed period
    after date is issued; (b) the acceptance of an instrument payable at
    a fixed period after sight
    →any holder may insert the true date of issue or
    acceptance, and the instrument shall be payable
    accordingly.
    DATES
    →Insertion of a wrong date does not avoid the
    instrument in the hands of a holder in due course,
    as to him, the date so inserted is to be regarded
    as the true date.
    HOLDER IN DUE COURSE (Section 52)- COFI
    C- That is complete and regular upon its face
    O- That he became the holder of it before it was overdue,
    and without notice that it had been previously dishonoured,
    if such was the fact
    F- That he took it in good faith and for value
    I- That at the time it was negotiated to him, he had no
    notice of any infirmity in the instrument or defect in the
    title of the person negotiating it

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