Roach Law Office

5923 W. Commonwealth Ave. Passi City

January 29, 2020

Mrs. Amina Chio

42 Saligumba Drive
Passi City
Philippines
Re: Collection of Sum of Money

Dear Mrs. Chio:

This legal opinion seeks to answer your question as to whether

or not you can claim the payment of debt from Ramon A. Blanco after

declaring that the promissory note is not a Negotiable Instruments

law to avoid the payment.

The Facts

As per our discussion and the documents you have shown me

the following are the pertinent facts:

On February of 2005, Blanco obtained a loan from Spouses

Chio for an amount of PhP120, 000.00, as evidenced by a promissory

note, payable on December 31, 2005.

Upon presentment for payment, however, the two checks were

dishonored for the reason "account closed." Despite repeatedly

demanding payment from Blanco, the latter refused to pay. As such,

the Spouses filed a suit against him before the MTC. For his defense,
in the main, Blanco claimed that the Promissory Note may not be use

as a NIL to compel him to pay.

Conclusion

The subject promissory note is not a negotiable

instrument, according to ACT 2031, section 1, but it is a financial

instrument that contains the written promise of Ramon A. Blanco for

the payment of his debt therefore he is still entitled to pay the amount

as stated in the said promissory note.