Section Presentment for payment

physical presentation of the instrument to the

WHAT 74 party primarily liable
for purposes of collection

in order to charge the parties secondarily

WHY liable ( drawer and/or indorsers)

physical presentation of the instrument to the

HOW party primarily liable

WHO 72 by whom holder/authorized rep

to whom ** to the party primarily liable/auth rep
if there is a specific place of payment, to
anyone who may be found at such place

WHEN 71 fixed date at maturity

payable on
demand reasonable time after issue
72 regular business hours on business days
 reasonable hours
75 if at a bank during banking hours
M-F, excl holidays
85 Sunday/holiday, next business day

fixed date
and falls
due on a
Saturday next business day
payable on
demand if Saturday is not a holiday, up to 12nn

WHERE 73 1 place specified in the instrument

2 address indicated in the instrument

3 usual place of business/residence of debtor

where the debtor can be found/last known

4 place of business/residence

drawer has no reason to expect the drawee to

EXCEPTIONS 79 pay
presentment indorser has no reason to expect the
excused 80 instrument to be paid

82 drawee is a fictitious person

diretso na treat after due diligence/ reasonable effort,

as dishonored; presentment cannot be made
parties
secondarily
liable can be
charged waiver of presentment

for reasons not of holder's fault; beyond

delay 81 control

presentment still needs to be made when the

reason for the delay ceases
NOTES
** 76 dead representative/administrator
77 partners any of the partners, even if partnership already dissolved
78 not partnersall them

84 immediate right of recourse against all parties secondarily liable

*assuming proceedings for dishonor have been observed

* no need to file a case/sue the maker first

Prefinals next week, regular class hours

good for 1.5 hrs only
coverage everything discussed from the beginning
continue discussion and orals on the following topics:
Notice of Dishonor
Acceptance
Discharge
 Presentment for acceptance

for purposes of acceptance

sec 143

physical presentation of the

instrument to the party
primarily liable

145 holder/authorized rep

drawee/auth rep

145 before maturity

regular business hours on business days

 during banking hours
M-F, excl holidays
146 Sunday/holiday, next business day

regardless of if Saturday is not a holiday, up to

type of
12nn
instrument

place specified in the instrument

place is not
material; no address indicated in the
need to be instrument
should be in the
the proper order in order; usual place of
where the business/residence of debtor
drawee can
be found where the debtor can be
found/last known place of
business/residence

drawee is a fictitious person,

148 absconded, no capacity
after due diligence/ reasonable
effort, presentment cannot be
made
presentment was irregular, but
acceptance has been refused on
some other ground

for reasons not of holder's fault;

beyond control
presentment still needs to be
made when the reason for the
delay ceases
 145 -do-
hip already dissolved -do-
-do-
bankrupt/ins
olvent assignee

all parties secondarily liable 150;151 immediate right of recourse against all parties secondarily liable
have been observed *assuming proceedings for dishonor have been observed

* no need to present the bill for

payment unless the bill has been
accepted in the meantime

147 delay in the presentment for payment..

caused by the need to present for acceptance

due date Nov-10

negotiated on nov 9

the beginning
following topics:
 Notice of Dishonor

 in writing or merely oral and may be

given in any terms which sufficiently
identify the instrument and indicate
that it has been dishonored by non-
acceptance or non-payment. It may
in all cases be given by delivering it
form personally or through the mails.

payable after sight;

necessary to set the
maturity date
any drawer or indorser to whom such
stipulation notice is not given is discharged.

payable elsewhere other

than the place of business
or residence of the drawee

> holder or his agent

> any party to the instrument who
might be compelled to pay it to the
holder
drawer/indorser or agents
all parties secondarily liable
have been observed

zamboanga
manila
Acceptance