« ‘THE LAW ON NEGOTIABLE INSTRUMENTS see 8 (e) One or more of several payees; or (f) The holder of an office for the time being. Where the instrument is payable to order, the payee must be named or otherwise indicated therein with reasonable certainty. Standardized words of negotiability. to bearer” (see Sec. 9.) are standardized wor tia bility and their use generally obviates any questi negotiability of an instrument. They convey most clearly the consent that the instrument may be transferred to whom- ever the payee orders, allowing the further negotiation of the instrument. ny other words may be used indicating ion on the part of the maker or drawer to make iment freely transferable to some person or persons other than the one to whom it was originally issued. When instrument payable to order. instrument is payable to order where it is drawn to the order of a specified person; or (b) to him: ; Consequently, an instrument payable to a spec ified person (eg., “Pay to P.”) is not ‘an order instrument and, therefore, is non-negotiable as the promise or order is limited to paying one person. EXAMPLES: (1) “Pay to the order of P P10,000." 2) “Pay to P or order P10,000." It is not essential that the words “to the order or “or order” be used. The words “to P and assigns,” ha been held to be equivalent words which will render ¢l instrument negotiable. ‘Uae otherwise indicated, “R” refers to DRAWER See. NEGOTIABLE INSTRUMENTS IN GENERAL Form and Interpretation __ Persons to whom order instrument may be drawn. Section 8 enumerates the persons to whose order an instrument may be made payable by the maker or drawer. EXAMPLES: (1) to order of payee who is not the maker. “1 promise to pay P10,000 to the order of P. (Sge.) M” (2) to order of payee who is not the drawer. “Pay to the order of P P10,000. (Sed. R” (9) toorder of payee who isnot the drawee “Pay to the order of P P10,000. (Sed.)R Tow Manila” (4) t0 order of drawer. “Pay to the order of myself P10,000. (Sg@.)R Tow Manila” When a depositor wishes to get cash from his bank over the counter, the practice is to draw a check in the form of "Pay to cash” % Unless otherwise indicated, “W" refers to DRAWEE. '