NEGOTIABLE INSTRUMENTS

WRITTEN CONTRACTS FOR THE PAYMENT OF MONEY; BY ITS FORM,

INTENDED AS A SUBSTITUTE FOR MONEY AND INTENDED TO PASS
FROM HAND TO HAND, TO GIVE THE HOLDER IN DUE COURSE THE
RIGHT TO HOLD THE SAME AND COLLECT THE SUM DUE.
THESE CONTRACTS ARE GOVERNED BY ACT NO. 2031 (FEBRUARY 3,
1911), OTHERWISE KNOWN AS “THE NEGOTIABLE INSTRUMENTS LAW”
PROMISSORY NOTES
• For value received, I promise to pay to Michael or order the sum of
Php50,000.00 on November 30, 2020.
• (Sgd.) Bryan

• September 19, 2020

• In payment of the ten sacks of mangoes delivered, I promise to pay Mr. X or
bearer the sum of Php5,000.00 thirty days after date.
• (Sgd.) Mr. Y
 BILL OF EXCHANGE
September 19, 2020
To: Joseph Enchong
Pay to the order of Lindsey Mae the sum of Php50,000 thirty (30) days after sight.
Reimburse yourself from my LB Savings Account No. 222808.
(Sgd.) Joshua Faye
 BANK CHECK

ACCOUNT NO. ACCOUNT NAME CHECK NO.

123343-09-02 BRYAN JASPER D. SOLIS 8778899
Date: 09/22/2020
Pay to the Order of FEDERICO SISON PP 500,000.00

the sum of FIVE HUNDRED THOUSAND PESOS only

(Sgd.) Khristine Dawn

BANKOPANGASINAN
NEGOTIABILITY IS ACHIEVED THRU FORM
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

(e) Where the instrument is addressed to a drawee, he must be named or otherwise

indicated therein with reasonable certainty.